Marshall Motor Holdings plc has issued a trading update on 2016 trading ahead of the release on 15 March 2017 of its full year results for the year. The Group’s statement suggest that the second half of 2016 delivered “material improvements on results for the first six months.

The group reports “strong like-for-like revenue growth”, not least from the businesses acquired in 2016 including SG Smith Holdings and Ridgeway Garages. Marshall’s retail business is reported to have delivered growth in both revenue and profitability, with like-for-like growth in sales of new vehicle units improving on the first half of the year.  The group acknowledges that margins remained under pressure in the latter part of the year. The statement confirms that after-sales revenues and margins also continued to yield growth. Marshall confirm like-for-like sales of used vehicle as  marginally above the comparable period last year.The group’s leasing fleet was 2.7% ahead of the position reported at 31 December 2015.

In terms of managing expectations for the year ahead; the trading statement sounds a note of caution with regard to the UK vehicle market in 2017, supporting “industry forecasts for a decline in the UK market for new vehicle sales” during this year.