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Marshall Motor Group reveals record results

Marshall Motor Group increased turnover by 18.8% to £941 million and operating profits by 75% to £11.8m, according to the company’s annual results for 2013.

The results include the motor and leasing divisions of Marshall of Cambridge Holdings.

The group saw improvements across the business with new car retail sales up 23.7% to 27,250 units and used car sales up 23.9% to 23,395 units. The group now has 66 dealerships across the UK.

Daksh Gupta, Marshall Motor chief executive, is expecting an increase of 10% in new car sales and an 11% increase in used car sales across the group this year. 

Gupta said: “These are fantastic results for 2013 which was a hugely significant year for the group as it marked the completion of our phase one strategy to transform the group form a medium size regional group to a scalable billion pound group.

“Now that we have largely completed phase one we are working on our phase two plan which is about driving further organic and acquisitive growth. Our vision still remains to be the UK’s premier automotive retail and leasing group as recognised by our colleagues, customers, business partners and shareholders.”

He said that based on the first five months of trading in 2014 he is confident the group will significantly exceed the 2013 results.

Marshall has added 49 franchises to the group portfolio in the last five years, with 23 leaving the group. The business has also grown geographically from represenation in six counties to 17.

Gupta admitted it had been a significant challenge to standardise processes and develop the values-driven culture recquired for growth at the group with such a high proporation of new people joining the business through its acquisitions.

Marshall will look to improve its positioning and achieve a better equilibirium between premium, alternate premium and volume brands.

Gupta said: "Creating a great place to work for our employees is paramount to delivering outstanding service to our customers and financial returns for our shareholders."

Marshall has been participating in the Great Place to Work survey since 2008 and is aiming to increase its result of 75% of employees agreeing that the group is a great place to work to 80% in 2014.

Marshall will be rolling out plans for its Academy to ensure all sales staff are trained to the group's standards. The business is working with Aston University and Loughborough College to extend a 'gap' assesment for all management.

The group will be looking to acquire more premium and specialist franchsies this year.

Gupta said: "Volume brands have been and will continue to be an important part of the business.

"We continue to explore opportunities as they become available and acquisitions, as well as organic growth, remains an integral part of our growth plans."



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Comments

  • Chilli Pepper - 03/06/2014 19:03

    Operating profit is one thing! PBT is another !!!!

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  • Interested Dealer - 12/06/2014 19:59

    If you claim to be a wonderful place to work 75% stated why have you 44 Vacancies in this group, something not adding up?

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