Leading automotive group Marshall Motors (LON:MMH) delivered solid results that came in ahead of analysts expectations on Wednesday, with revenue figures up over 50 percent.
Like-for-like revenue growth increased by 10.7 percent, with underlying profit before tax up 60.4 percent to £25.4 million. The group’s revenue increased by 54.1 percent to £1.9 billion, up from £1.2 billion.
The company’s statement for the year to 31st December held good news for investors, with underlying basic earnings per share rising 66.1 percent to 26.2p.
Daksh Gupta, Group Chief Executive, called 2016 a “transformational” year for the company, but added:
“Following the UK referendum on EU membership and the resultant continued economic uncertainty, the Board remains cautious on the UK vehicle market in 2017. Our order book for the important March plate-change period is, however, encouraging and current trading is in line with our expectations. Our outlook for the full year is unchanged.”
Marshall Motor Group have been in the press recently for their use of social media, winning an AM Award earlier this month for their ‘customer-centric’ approach. Daksh Gupta, Marshall Motor Holdings’ chief executive, leapt from a plane flying at 13,000ft for a sky dive in aid of the BEN charity during the summer, which raised more than £140,000 and was covered extensively by traditional and social media. Sharing the hashtag #marshallmoments is central to the group’s creation of an online community of customers.
Shares in Marshall Motors have risen 0.66 percent to 167.70 on the news (0856GMT).