25th Jun 2021 09:24
(Alliance News) - Marshall Motor Holdings PLC has made "significant upgrades" to both first half and full year expectations for 2021 following a recent surge in trading, it announced on Friday.
The car dealer noted a recent unprecedented used vehicle value appreciation and expects an "exceptionally strong" first half performance in both profit and cash generation and record results to be posted for 2021.
"The group has continued its strong outperformance of the wider new and used vehicle markets," the company said.
Commenting on future outlook, the motor group did caution there remains high levels of uncertainty due to the impact of new vehicle supply issues because of a worldwide shortage of semiconductors and the continuing impact of the pandemic.
Despite a degree of supply-side pressure, Marshall stated it expects annual underlying profit before tax to be significantly ahead of current market expectations and well ahead of its historic record result.
As a result of the strong trading performance, the motor group noted it will consider restarting dividend payments in its interim report published August 10.
Shares in the Cambridge-based company were 3.1% lower at 185.00p each in London on Friday morning.
By Will Paige; [email protected]
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