11th Jul 2019 10:00
(Alliance News) - Marshall Motor Holdings PLC on Thursday said it is "right" to remain cautious for the remainder of the year due to weak consumer confidence.
The automotive dealer said in the six months to the end of June the UK new and used car markets remained challenging, with volume pressures and well-documented cost headwinds for the retail sector, together with recent margin pressure in the used car market.
Despite that, in the first half, Marshall Motor said it outperformed the market in both retail and fleet new vehicle unit sales, achieving continued strong growth in used vehicle unit sales and further growth in aftersales revenue.
As a result, the AIM-listed firm now expects to deliver an interim underlying pretax profit in line with expectations.
Looking ahead, Marshall Motor believes it is right to remain cautious regarding the outlook for the remainder of the year, given continued weak consumer confidence due to political uncertainty over Brexit, ongoing cost headwinds for the retail sector, and further potential new vehicle supply constraints.
Marshall Motor will report its interim results on August 13.
The stock was 0.7% lower in morning trade in London at 144.00 pence a share.
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