Marshall Motor Holdings - Motoring ahead in H220
A trading update from Marshall Motor Holdings (MMH) confirms very strong Q320 trading performance as activity bounced back after the lockdowns. All segments outperformed, beating management expectations and leading to an increase for FY20 PBT guidance to c £15m from break-even previously. Uncertainty remains about prospects for Q420 and FY21 as potential headwinds loom. A sustained recovery may be some way off, as reflected in the undemanding FY21e P/E rating of 8.6x.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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