Marshall Motor Holdings Plc very well positioned for the future

Marshall Motor Holdings Plc (LON:MMH) , one of the UK’s leading automotive retail groups, issued the following trading update in response to the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure on 1 September 2018 and the resultant significant impact on the UK new vehicle market during September 2018.

Current trading and outlook

As previously announced, the Group delivered a robust performance in H1 2018 with continuing underlying profit before tax growth on a previous record result. During H2 2018, the challenges presented by a decline in the new vehicle market continue to have been mitigated by strong operational disciplines and the benefits of the decisive action taken in 2017 to proactively manage costs and the Group’s dealership portfolio.

The Board had anticipated a decline in new vehicle registrations in the key plate-change month of September and supply disruption in Q4 and as a result, its previous outlook for the full year remains unchanged.

The Board believes it is right to remain cautious on the UK car market in light of continued economic uncertainty, ongoing consumer confusion around diesel vehicles and the residual impact of WLTP changes on new vehicle supply. With the support of the Group’s brand partners, excellent portfolio, robust operating disciplines and strong balance sheet, the Board continues to believe that the Group remains very well positioned for the future.

Investment

The Group continues to invest in selected property assets to support its brand partners and offer customers an excellent retail environment whilst remaining focused on maintaining a strong balance sheet. Ongoing developments of a new Jaguar Land Rover facility on freehold land in Lincoln and a new Ford Store on long leasehold land in Cambridge are scheduled to complete in the new year.

The Group also continues to review potential acquisition opportunities.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Marshall Motor Holdings Plc

More articles like this

Marshall Motor Holdings Plc

UK to see ‘thriving’ second-hand car market

One-third of used car sales will be electric vehicles by 2030, which is set to create a robust second-hand market for drivers looking to go green. By the end of the decade, around 31 percent of

Marshall Motor Holdings Plc

Surge in buying used cars thanks to cost of living crisis

New data from carwow suggests rising inflation, the cost of living crisis and new car delivery delays could all be reasons why motorists are embracing the used car market in ever greater numbers. carwow’s data shows a 113%

Marshall Motor Holdings Plc

Ten of the best electric cars for all scenarios

Affordable family transport 2012 Nissan Leaf – £8,344 If you (or your ‘friends’ down the pub) are under the impression Tesla invented the mainstream electric car, then the Nissan Leaf is here to say something about

Marshall Motor Holdings Plc

The best cars to own in the UK

These are the best new cars to own in the UK according to you, the people at the sharp end. Here are the 2022 Driver Power results! Every year, the Driver Power 2022 new-car survey provides

Marshall Motor Holdings Plc

How to check the MOT history of your car

The Government is considering scrapping the annual requirement for drivers to get an new MOT on their vehicles, and reducing it to every two years. Transport Secretary Grant Shapps is believed to have raised the idea at a Cabinet

Marshall Motor Holdings Plc

Marshall Motor revealed among AM Awards 2022 finalists

The UK’s best car retailers and repairers have been revealed among the finalists for the AM Awards 2022. After hours of deliberation, carefully considering a record number of entries, the AM Awards’ judges have made their

Marshall Motor Holdings Plc

The best selling cars in the UK

The UK’s new car market continued to recover in February, with sales of electric and plug-in hybrid cars driving growth. So, which models were the most popular?….. 15% more cars left showrooms in February than was