• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Motor industry analysts hail Marshall’s increased profit forecast – but there might be a blip next year

John Bowman by John Bowman
December 11, 2020
0
Home News

Motor industry analysts have upgraded their forecasts for Marshall after its unscheduled announcement this morning (Dec 9).

The dealer group told the London Stock Exchange it now expected its profit for the year to be ‘not less than £19m’.

That’s a 27 per cent rise from the £15m it predicted in October, which itself had been an upward revision from the half-year results, when it said it expected to break even.

Marshall has also vowed not to use the furlough scheme next year, with chief executive Daksh Gupta, pictured, telling Car Dealer: ‘We are very grateful for the support the government has given Marshall, but we have managed to perform exceptionally well and we felt that it is the right thing to do.’

  • Marshall increases profit forecast for the year up AGAIN and pledges not to furlough staff in 2021

In a briefing released following today’s announcement, Zeus Capital said Marshall had ‘a quality platform and will emerge as a sector winner in our view’.

The fact that Marshall had vowed not to furlough anyone in 2021, even if there was another lockdown, showed the group’s balance sheet confidence ‘despite significant and well-documented industry uncertainties going into next year, with the position of Brexit still unknown at present’.

The investment banking operation has now adjusted its pre-tax profit forecast for Marshall on the same lines – from £15m to £19m – adding: ‘We reiterate our view that [Marshall] is a creditable and reliable platform.’

It also reaffirmed its belief that the pandemic will speed up industry consolidation ‘with fewer large-scale players well placed to benefit’.

Meanwhile, international banking and wealth management group Investec has also upped its 2020 pre-tax profit forecast for Marshall to £19m.

But it estimates that Marshall’s pre-tax profit next year will dip to £18m before rising again in 2022 to £19.8m.

Investec said: ‘Trading was negatively impacted in November by the closure of its showrooms. However, performance benefited from the lessons learnt in the first lockdown.

‘The group was able to operate all of its aftersales business, take orders online and by phone as well as deliver new and used cars through a click-and-collect service.’

But although it said Marshall had continued to trade well since showrooms in England reopened on December 2,  ‘a no-deal Brexit would be unhelpful and could result in sales volatility in [the first half of 2021]’.

  • Register as a Car Dealer member and get more out of the website here
  • Car Dealer Mag issue 153 is out now – Read it here
  • Join our breaking news WhatsApp group – Click here to join now

Related Posts

Rishi Sunak
News

Budget 2021: What could it mean for car dealers and the automotive industry?

February 27, 2021
Billy Monger crosses finish line
News

Feb 27 round-up: Sunak warns ahead of Budget; FTSE hit on metal prices; Billy Monger completes 140-mile challenge

February 27, 2021
Volkswagen Passat GTE plug-in electric car being charged
News

VW suffers post-tax profit drop of 37 per cent but says that was better than expected

February 26, 2021
Supercar graphic
News

Moving on up: Here are the top 10 used supercars to buy if you want to see a return on your investment

February 27, 2021
Subaru sign via Newspress
News

Subaru adds three dealers to network with plans for at least 15 as part of restructure that will see 10 leave

February 27, 2021
G3 Motorhouse in Failsworth from Google
News

Car dealers must pay out thousands after Trading Standards investigation found they’d clocked cars

February 27, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C