Marshall Motor Holdings PLC Trading Update & Notice of Interim Results (5556S)
July 09 2015 - 2:00AM
UK Regulatory
TIDMMMH
RNS Number : 5556S
Marshall Motor Holdings PLC
09 July 2015
9 July 2015
MARSHALL MOTOR HOLDINGS PLC
("MMH" or the "Group")
Trading Update and Notice of Interim Results
Trading in line with expectations
Marshall Motor Holdings plc, one of the UK's leading automotive
retail and leasing groups, issues the following trading update
ahead of the release on 18 August 2015 of its interim results for
the six months ending 30 June 2015 (the "Period").
During the Period trading in the Group's retail and leasing
divisions was ahead of the comparable period last year. This was
partly offset, as anticipated, by an increase in central costs
(including additional costs related to our new public company
status).
Based on current market conditions, the Board's outlook for the
full year remains in line with our expectations.
Divisional Performance
The Group's retail division has shown good growth in both
revenue and profitability, driven by a combination of contributions
from recently acquired businesses and like-for-like
improvements.
The Group's fully integrated leasing division continues to
perform well, showing strong growth in profitability.
Financial Position
The Group's financial position is strong. The net proceeds of
the IPO, together with the Group's GBP75m revolving credit
facility, which is currently undrawn, provide significant resources
to fund further organic and acquisition-driven growth.
Interim Results
The Group will publish its interim results for the six months
ended 30 June 2015 on 18 August 2015.
For further information and enquiries please contact:
Marshall Motor Holdings c/o Hudson Sandler Tel:
plc +44 (0) 20 7796 4133
Daksh Gupta, Group Chief
Executive
Mark Raban, CFO
Investec Bank plc (NOMAD Tel: +44 (0) 20 7597 4000
& Broker)
Christopher Baird
David Flin
David Anderson
Hudson Sandler Tel: +44 (0) 20 7796 4133
Nick Lyon
Alex Brennan
About Marshall Motor Holdings plc (www.mmhplc.com)
The Group's principal activities are the sale and repair of new
and used vehicles through Marshall Motors and the leasing of
vehicles through Marshall Leasing. The Group's businesses are
integrated and include a total of 71 franchises covering 24 brands,
operating from 63 sites across 16 counties in England.
MMH is the only franchised dealer group in the UK to represent
all of the top 5 prestige vehicle manufacturer brands (being Audi,
BMW, Mercedes-Benz, Land Rover and Jaguar) and all of the top 10
volume vehicle manufacturer brands (being Ford, Vauxhall,
Volkswagen, Nissan, Peugeot, Toyota, Citroen, Hyundai, Kia and
Skoda). Its diverse portfolio means it represents manufacturer
brands accounting for around 88% of all new vehicle sales in the
UK, the highest market coverage of any UK dealer group.
With revenues of GBP1.1bn in 2014, the Group is the tenth
largest dealer group in the UK.
In May 2015 the Group was recognised by the Great Place to Work
Institute, being ranked the 26(th) best place to work in the UK
(large company category).
Cautionary statement
This announcement contains unaudited information based on
management accounts and forward-looking statements that are based
on current expectations or beliefs, as well as assumptions about
future events. These forward-looking statements can be identified
by the fact that they do not relate only to historical or current
facts and undue reliance should not be placed on any such
statements because they speak only as at the date of this document
and are subject to known and unknown risks and uncertainties and
can be affected by other factors that could cause actual results,
and MMH's plans and objectives, to differ materially from those
expressed or implied in the forward-looking statements. MMH
undertakes no obligation to revise or update any forward-looking
statement contained within this announcement, regardless of whether
those statements are affected as a result of new information,
future events or otherwise, save as required by law and
regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTPKFDNABKDQOK
Marshall Motor (LSE:MMH)
Historical Stock Chart
From Jul 2024 to Aug 2024
Marshall Motor (LSE:MMH)
Historical Stock Chart
From Aug 2023 to Aug 2024