Marshall Motor Holdings - Reaffirming FY18 outlook
Following the release of sharply lower UK new vehicle registration statistics for September, MMH has released a trading update reaffirming its outlook for FY18. At the interims the company had been cautious about the potential supply side disruption caused by the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP) from 1 September 2018. As it had already factored this in, the expectations and thus numbers remain unchanged. The share price weakness in response to the registrations decline appears unwarranted, with a strong yield providing support.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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