Tuesday, June 08, 2010
Marshall boosts operating profits in 2009
Operating profits in 2009 were £6.6m compared to operating losses of £7.5m in 2008.
Sales growth
Like-for-like sales grew 1.6 per cent to £431m, according to the just-published annual report.
The Cambridge-based group, rated 13 in the Motor Trader Top 200, outperformed the new car market with sales up 20.5 per cent in a market down 6.4 per cent.
In used cars it increased total sales by 17 per cent in a UK market down 5.7 per cent.
On the aftersales side, Marshall's service net profit increased by 40 per cent, parts net profit by the same percentage and bodyshop net profit by 19 per cent.
Investment
Marshall Motor Group chief executive Daksh Gupta said the firm had invested significant amounts in the corporate and local business sector.
During 2009 it said firms extended leases on existing leases and there was now pent up demand for which the firm was well placed to satisfy.
Leasing
For Marshall Leasing, the first half of 2009 "remained difficult" but the second half saw improvements as customers began to make purchasing decisions deferred in the earlier part of the year.
During 2009 the company invested in 18 showrooms and it expects to invest in an additional 17 during 2010.
DATED: 08.06.10
FEED: MT
