Marshall remains ‘cautious’ despite results
Marshall Motor has reported interim financial results that exceed expectations.
The UK auto dealer and leasing group posted a 0.4 per cent like-for-like decline in unit sales to retail customers in the first half of 2017, compared to a 4.8% industry-wide decline for new vehicle registrations by UK retail customers.
However, speaking to the Financial Times, it said it remained ‘cautious’ about the industry and was ‘cognisant of the economic and political uncertainty following the UK referendum on EU membership and industry forecasts for continuing declines in the UK new car market.’
The group’s leasing segment fell 11% in pre-tax profits to £2.4m, having growing 5.8% in the same period last year, while overall revenues at Marshall rose 43.7% to £1.19bn.