MARSHALL Motor Holdings, one of the UK’s leading automotive retail and leasing groups, has announced record annual results for the year ending December 2015.
The group, which runs 76 dealers around the UK, selling 88 per cent of the market’s available vehicle brands, showed increases in revenue and adjusted profits with record results from both retail and leasing segments.
The company reported that revenue increased by 13.5 per cent to £1,232.8m (2014: £1,085.9m). Adjusted profit before tax was up 21.4 per cent to £15.8m (2014: £13.1m).
Operational highlights included the following:
New car unit sales up by 9.9 per cent (like-for-like up by 7.2 per cent)
Used car unit sales up by 8.2 per cent (like-for-like up by 1.5 per cent)
Aftersales revenues up by 8.5 per cent (like-for-like up by 2.4 per cent)
Gross profit margin up by 0.2 per cent to 11.8 per cent.
In 2015 the company saw two significant changes, transitioning to a public limited company and acquiring SG Smith Holdings Limited for around £24m.
There are also three major new developments for the Audi and Jaguar/Land Rover brands, enhancing Marshall’s prestige brand offering.
Daksh Gupta, group chief executive, said: ‘The board is pleased to announce record trading in the period, underpinned by like-for-like organic volume growth and improved gross profit margin.
‘In addition, we benefited from contributions from recent acquisitions and ongoing portfolio management. Our retail and leasing segments have reported record results showing growth in profit before tax of 29 per cent and 24 per cent respectively.
‘Our transition to an independent public company marked a significant moment in the Group’s 106-year history. We continue to pursue both our organic and acquisition growth strategies and we were pleased to complete the acquisition of SG Smith in November 2015 in line with our stated strategy.
‘Trading in the current financial year has started in line with our expectations.
‘Based on current market conditions and visibility of the important March plate change month, we continue to have confidence in delivering further material growth in 2016, in line with current expectations.’
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