Marshall Motor Holdings - COVID bites but well placed for recovery
Marshall Motor Holdings’ (MMH) H120 results were severely disrupted by the pandemic, as was the whole UK auto retail sector. Despite a strong Q120 and continued outperformance of the new car market, management had anticipated an H120 underlying loss before tax, which was duly recorded at £8.9m. FY20 management guidance for a near break-even performance is encouraging as recovery is already apparent in increased June and July activity levels. With a strong half-year cash position, MMH is positioned to pursue its growth strategy as the momentum of recovery builds into FY21.Marshall Motor Holdings PLC is a holding company. Co. is an automotive retail group. The principal activity of Co.'s subsidiary undertakings is the sale and servicing of passenger cars and commercial vehicle and associated activities. Co. is organised into one business segment being the retail segment. The retail segment includes sales of new and used vehicles, together with the associated ancillary aftersales services of; servicing, body shop repairs and parts sales.
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