StockMarketWire.com - Auto dealer Marshall Motor swung to a first-half profit and reinstated its dividend after demand bounced back as lockdowns eased.

Pre-tax profit for the six months through June amounted to £39.5 million, compared to a year-on-year loss of £10.7 million.

Revenue jumped 49% to £1.33 billion and underlying pre-tax profit was £38.4 million.

Marshall Motor declared a first-half dividend of 8.86p per share.

Looking forward, it forecast a continuing underlying pre-tax profit for the full financial of not less than £40.0 million, implying a tougher second half than the first.

'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 and the continuing impact of the Covid-19 pandemic,' chief executive Daksh Gupta said.

'Given these uncertainties, there remains a range of possible outcomes for the year, however, the board expects that continuing underlying profit before tax for 2021 will be not less than £40 million.'








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