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Marshall Motors has announced an update to its predicted profits for 2021, reporting that its underlying profit before tax for 2021 will be “not less than £40.0m.”
This figure is after the commitment to repay all CJRS and non-essential retail sector grants received for this financial year.
In a statement today (4 Aug), it said: “There remains a high level of uncertainty over the second half of 2021 and into 2022 given well documented vehicle supply issues, an expected realignment of used vehicle values (the timing of which is uncertain) and the continuing impact of the COVID-19 pandemic. Given these uncertainties, there remains a range of possible outcomes for the year.”
In late June, Marshall Motor issued a trading update saying it expected to deliver an “exceptionally strong first half performance but there was “a high level of uncertainty” over the second half of the year, well ahead of the Group’s historic record result.
It said it was benefiting from “unprecedented” rising used car values and demand-to-supply conditions for new and used vehicles. It continues to outperform the wider new and used car markets.
The Group’s latest update said that those tailwinds continued in July and the Group now has “initial visibility on the outlook for August and September.”