Marshall Motors a financial Ferrari with record £2.27bn revenue
Marshall Motor Holdings turned in a stunning set of full year results for 2017 with revenues up 19.5 per cent to a record £2.27 billion.
Underlying profit before tax was 14.4 per cent ahead to £29.1m.
The group saw good like-for-like revenue growth of 3.5 per cent with all revenue streams showing positive growth.
Marshall saw strong performance from after-sales, with revenues up 20 per cent and further margin improvements secured.
The bottom line was boosted by the strategic disposal of Marshall Leasing for a gross consideration of £42.5m before costs and expenses. Strong management action drove a material reduction in net debt to £2.2m (2016: £119m).
The group also delivered a Rolls-Royce of a full-year dividend – up 16.4 per cent to 6.4p per share.
Chief executive Daksh Gupta (pictured) said: “Despite the more challenging market backdrop, the board is pleased to announce another record financial performance which was ahead of our previously upgraded expectations.
“During 2017 we took a number steps, including the strategic disposal of Marshall Leasing, to prepare the group for the future.
“We are now focused exclusively on our motor retail business and with a significantly strengthened balance sheet remain ideally positioned to exploit future opportunities.”