Lookers will return to “normalised reporting” of its annual financial results after renewing its banking facility and reporting continued strong trading momentum the first four months of 2021.
Marshall Motor Holdings CEO Daksh Gupta has told AM “I can hold my head high” after the AM100 car retailer vowed to repay £4m in Government COVID support – and still match its 2019 financial performance in 2021.
Cambria Automobiles has set out its roadmap to car retail recovery in a trading updated for a six-month period which saw the majority of its dealerships closed for more than 100 days due to COVID-19 restrictions.
Group 1 Automotive has reported a “solidly profitable” Q1 for its UK car dealerships, despite the impact of COVID-19 ‘Lockdown 3’ showroom closures.
Inchcape’s UK car dealership operation showed “relative resilience” in a COVID-impacted ‘Lockdown 3’ as the PLC’s distribution business offset revenue losses from retail, the PLC has reported.
Pendragon partially credited the “high degree of protection” against ‘Lockdown 3’ offered by its new digital approach to car retail for a £10.8 million underlying profit in Q1.
Motorpoint has revealed that 52% of its used car sales were completed online during a COVID-hit 2020 trading period.
Lookers sold over 44,000 new and used cars during a COVID-19 ‘Lockdown 3’ impacted Q1 to finish the period “ahead of expectations”.
AM100 car retail PLC Cambria Automobiles has reported that it has been “trading ahead” of its previous financial year during the first five months of its 2020/21 reporting period.
The Vertu Motors board has said that the AM100 car retail group is positioned to realise “ambitious growth aspirations” after crediting a huge Vertu team effort for a creditable 2020 trading performance.
Vertu Motors has reported that it expects its pre-tax profits for the financial year ending February 28, 2021, to exceed analysts’ current £18 million forecasts.
Cambria Automobiles has claimed that its trading performance in the first quarter of its 2021 financial year was ahead of the previous year, despite the impact of November’s COVID-19 lockdown.
Inchcape has reported that its performance during November’s ‘Lockdown 2’ COVID-19 restrictions was “better than expected” – leading to an upgraded pre-tax profit forecast.
Marshall chief executive Daksh Gupta has told AM that the car retail PLC will be “going for it” in 2021 after upgrading its profit forecast, vowing to repay its deferred VAT payments and forego the CRJS in the new year.
Marshall Motor Holdings has upgraded its profit predictions for 2020 after it “significantly outperformed” the car retail market in October and November.
Inchcape’s car retail revenues declined 17% during Q3 despite a ‘stronger than expected’ COVID-19 recovery from its operations in the UK and Europe.
Pendragon has said that it “almost entirely” offset its losses from a COVID-19 impacted first half of the year with an eight-fold increase in underlying pre-tax profits in Q3.
Lookers has reported that trading in Q3 resulted in underlying PBT “significantly ahead of last year” to largely offset losses recorded in a COVID-19 impacted first half of 2020.
Marshall Motor Holdings has reforecast its 2020 performance expectations after a “stunning” September of new and used cars sales – targeting a £15m underlying profit before tax.
Motorpoint chief executive Mark Carpenter has said that the car supermarket group’s board “continues to look to the future with confidence” after a June return to profitability.
