Marshall posts £43m profit for 2023
08 November 2023
Marshall Motor Holdings has reported a £42.9m profit before tax for the year ending 31 March 2023, on broadly stable revenue of £3.7bn. This compares to profit for the 15 months ended March 2022 of £84.9m (the group changed its accounting reference date to 31 March in December 2021).
The latest figures include a full year’s contribution from the Motorline business.
The directors say a decline in gross margins, from 12.2% to 11.8%, reflect the “unwind of significant market tailwinds”. Market conditions began to normalise in the comparative period from November 2021.
New vehicle sales accounted for 37.3% of revenue and 34.7% of gross profit; used vehicles comprised 52.6% of revenue and 29% gross profit; aftersales accounted for 10.1% of revenue and 36.3% of profit.
During the year, the business acquired one business, Leicester JLR, and disposed of or closed six.
Trading of the group’s shares on the AIM also ceased in June 2022, following Marshall Motor Holding Ltd’s acquisition by CAG Vega 2 Ltd, a subsidiary of Constellation Automotive Holdings.
Tags:
Why Subscribe?
As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:
- Get informed and boost your business potential
- More than 1,200 fellow executives have joined us since launch
- Independent, carefully crafted, unique content relevant to you and your business
- Develop a greater awareness of market trends and opportunities
- Access to a wide range of materials whenever, wherever and however you want it
- Significant discounts on ARN events, reports and other publications
