Marshall motors ahead with record results
Marshall Motor Holdings in Cambridge posted record revenues in what it called a transformational year for the business.
One of the UK’s leading automotive retail and leasing groups, Marshall increased revenue by 54.1 per cent to $1.9 billion in the year to December 31.
Underlying profit before tax was up 60.4 per cent to £25.4 million; the board has announced a massive 84.6 per cent increase in the full-year dividend from 2.98p per share to 5.50p.
New car revenues increased by 54.2 per cent and used car sales by 56.4 per cent. Three new flagship Jaguar Land Rover dealerships were opened during the year.
CEO Daksh Gupta (pictured) said: “Following our IPO in 2015, 2016 was another transformational year for the group and the board is delighted to announce another set of record results.
“This was underpinned by strong like-for-like organic growth, contributions from recent acquisitions and ongoing portfolio management. The strategic acquisition of Ridgeway was a unique opportunity for significant growth, extending our geographic footprint into new territories and further strengthening our brand partner relationships.
“We are now the seventh largest UK dealer group and remain well positioned to exploit further growth opportunities.”
Gupta said the board remained cautious regarding the possible effect of Brexit on the UK vehicle market in 2017 but said the company’s order book for the important March plate-change period was “encouraging” and current trading was in line with expectations.