Marshall Motor sees annual profits rising after better-than-expected October

Car retailer Marshall Motor Holdings said it expected to post annual underlying pre-tax profits ahead of the previous year.

The company said it was issuing a trading update 'in response to better than anticipated trading during October and a more positive outlook for the remainder of the current financial year'.

The company said the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure had a significant impact on the UK new vehicle market during September 2018, which was expected to continue for the remainder of the year.

However, it add: 'Whilst the resultant new car supply imbalance is continuing, growth in our used car volumes and margins given supply constraints in the new car market, combined with further revenue growth achieved in aftersales, has given us more confidence over the expected outcome for the year.'