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Marshall Motor Holdings Plc

Covid-19 (Coronavirus) Update

In the three weeks since my last update on activity across the Group under the Covid-19 lockdown, I am sure you will be pleased to hear that the core business has largely achieved a position of stability, with around half of the Company working remotely and about half working as normal on our various sites (and out on the road in MFS), maintaining good progress on our many ongoing contracts and commitments, albeit under the new working practices which we have adopted from the beginning to help protect our valuable employees.

MADG has announced the delivery of our 200th DVOW shelter from Land Systems and the signing of a new contract with the Cameroon Air Force in the last couple of weeks, both of which are good news.

At the end of April, however, we took the difficult decision to furlough just shy of 100 people around the different businesses. Initially this is just for May, although we will review it again at the end of this month, and we have committed to top up their salaries to 100%.

Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.