Marshall Motor Group targets £15m PBT following strong September sales

Following a particularly strong trading performance in the September plate-change month, Marshall Motor Group is now targeting an underlying profit before tax performance for the year of £15m.

The Group has said that its adjusted cash position remains strong, and as a result it believes it appropriate to voluntarily pay all amounts from which it benefited under the Government’s VAT Payment Deferral Scheme, which were not due to be fully paid until March 2022.

It is now up to date on all deferred VAT liabilities. Notwithstanding this £10.9m payment, the Group’s adjusted net cash (excluding IFRS16) as at 30 September 2020 was £31.5m.

Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.

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