18 December 2019 – acquisition and trading update
Marshall Motor Holdings, one of the leading automotive retail groups in the UK, has announced the acquisition of the business and assets of a portfolio of Volkswagen and ŠKODA passenger and commercial vehicle franchises from Jardine Motor Group UK Limited for up to £22.3m cash including £13.0m of inventory. In terms of trading, performance has been solid in a challenging market and despite trading conditions weakening further in the final quarter of 2019, the outlook for the full year remains unchanged. An update on the trading environment will be provided on 10 March when results for the year ending 31 December 2019 are due to be announced. We keep our BUY rating.