10 March 2020

Marshall Motor Holdings full-year results have seen underlying profit drop 10.8% in 2019 to £22.1 million on a turnover up 2.2% to £2.21 billion.

Overall profit before tax was up 8.9% to £19.9m against £17.2m in 2018. The results were ahead of analyst expectations.

On a like-for-like basis new car unit sales were up 0.3% while used car unit sales were up 6.1% in 2019. Aftersales revenue was up 3.2%.

Daksh Gupta – Marshall CEO

Over 2019 Marshall added 20 new businesses including the addition of eight VW franchises from Jardine Motors.

Commenting on the results Daksh Gupta, chief executive, said: “The Group continued to perform well in 2019 and despite a sustained period of market decline, has grown market share by outperforming in all of its key segments. The Group delivered record total reported revenue and achieved like-for-like revenue growth.  Despite market conditions, the business performed well, with like-for-like operating profit down 4.1% to £33.1m against last year’s record result.

“The Group has taken advantage of continued market consolidation, completing a number of strategic acquisitions in 2019, adding 20 new businesses. We are particularly proud to have become Volkswagen Group’s largest partner in the UK.

“Although we have not seen an impact to date, the Board is monitoring the potential impact of COVID-19 and is considering contingency plans in the event it starts to impact our dealerships.  The Board therefore remains cautious but our order book for the important March plate-change period is encouraging and our outlook for the full Year is unchanged.

“The UK motor retail landscape may change over the years and decades ahead. The Group’s long standing strategy of partnering with the right brands in the right locations has positioned it well to remain a relevant and important part of that future landscape.”

Tags: Daksh Guptash Gupta, Marshall, Marshall Motor Group