Marshall Motor posts jump in interim profit and revenue

AIM-listed Marshall Motor Holdings posted a jump in interim profit and revenue and lifted its dividend.

In the six months to the end of June, adjusted pre-tax profit was up 33.6% to £14m on revenue of £826.4m, up from £632.5m the year before.

The company declared an interim dividend of 1.80p per share, up from 0.58p in 2015.

it said new car unit sales in the half were up 20.3%, while used car unit sales rose 15.8%.

During the period, Marshall completed the acquisition of Ridgeway Garages for £106.9m and said on Tuesday that the integration was progressing according to plan.

Chief executive Daksh Gupta said: “The board is pleased to announce another period of strong trading, underpinned by like-for-like organic growth in both revenue and gross profit together with contributions from recent acquisitions.

“We were delighted to complete the strategic acquisition of Ridgeway which has extended the group's geographical reach and strengthened relationships with key brand partners. The enlarged group remains well positioned to execute its growth strategy moving forward."

At 0933 BST, shares were up 11% to 168p.