Share Name Share Symbol Market Type Share ISIN Share Description
Marshall Motor Holdings Plc LSE:MMH London Ordinary Share GB00BVYB2Q58 ORD 64P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 127.50 2,000 08:00:00
Bid Price Offer Price High Price Low Price Open Price
125.00 130.00 127.50 127.50 127.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Automobiles & Parts 2,276.13 19.64 19.90 6.4 100
Last Trade Time Trade Type Trade Size Trade Price Currency
11:24:28 O 2,000 127.50 GBX

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Date Time Title Posts
20/10/202011:27Marshall Motor Holdings PLC325
07/10/202012:26Marshall Motor Holdings INTERVIEWS1

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Marshall Motor Daily Update: Marshall Motor Holdings Plc is listed in the Automobiles & Parts sector of the London Stock Exchange with ticker MMH. The last closing price for Marshall Motor was 127.50p.
Marshall Motor Holdings Plc has a 4 week average price of 120p and a 12 week average price of 120p.
The 1 year high share price is 163p while the 1 year low share price is currently 82.50p.
There are currently 78,232,237 shares in issue and the average daily traded volume is 98,159 shares. The market capitalisation of Marshall Motor Holdings Plc is £99,746,102.18.
davebowler: Zeus; Significant outperformance Marshall Motor Holdings (MMH) has delivered a stunning trading update, particularly in September, which sees 2020E increase from a break even position to £15.0m at the underlying PBT level. We believe this significant outperformance is testament to the quality platform it has developed over the years, and continue to see MMH as a sector winner. § Trading update: MMH has released an upbeat and impressive trading update following its H1 results released on 18 August. This update covers trading patterns in August and the all-important month of September. § Clear outperformance: The pleasing aspect of the Q3 performance is the outperformance across all aspects of its business, particularly when benchmarked against the SMMT data. The difference in LFL and total units also shows the positive impact acquisitions made last year have had in this performance. The growth in used units is also particularly strong, and we note comments made in the statement that margins remained strong following this period as well so we believe this was not traded for this volume uplift. § Strong September in the bag: It is also clear that MMH had a strong September across the board. The 19.1% LFL growth rate in new retail units or 38.6% total unit growth rate is particularly striking vs. a net retail market -1.1% and demonstrates real outperformance. Fleet was also significantly ahead of the market, while the momentum in used cars was also kept up during this busy period. Aftersales revenue +11.5% LFL or 21.1% was also significant and noteworthy, and we suspect the LFL growth rate in servicing would have been higher than the headline growth rate. § Guidance upgraded: MMH has upgraded its guidance to 2020E and now expects to deliver an underlying PBT of £15.0m vs. previous expectations of a break-even position. We believe this has been primarily driven by a strong August and September trading, where the previous expectation in these months was flat on the prior year. Management are not providing any guidance into 2021E and beyond given uncertainties (economic, COVID-19, Brexit). § Investment view: Looking beyond the current short-term pressures, we continue to see MMH as a creditable and reliable platform, which we consider will emerge as a sector winner. We concur with the view that COVID-19 will accelerate consolidation in the industry, with fewer large-scale players well placed to do this in the current environment. Based on last night’s closing price the Group trades on an FY20E PE of 8.1x. We note that at these levels the Group delivered an attractive historic FY19A dividend yield of 7.1% with management committed to reinstating distributions at the earliest opportunity.
jaf111: ANOTHER hugely impressive summarised by looking at the outperformance by MMH over the market in key month of September. Fantastic job being done by management.....
edmundshaw: Marshall of Cambridge Holdings Interim results today. The results for MMH in that are broadly those of our interims (as you would expect). hxxps:// On the post period commentary there is a small difference:- MMH: ---- Trading in the final month of the Period was strong, benefitting, as anticipated, from a combination of a release of pent-up demand, extensions to vehicle financing agreements coming to an end, a shift from use of public transport towards vehicle ownership and the delivery of outstanding vehicle orders not completed prior to the closure period. We have been encouraged by our ability to operate effectively and successfully under our revised operating procedures. MCH (holding company): ---- [...] since 1 June there has been a strong recovery in sales, driven by: + The high number of new and used finance agreements that have expired either during or since lockdown + Revenge buying, representing pent updemand, following lockdown + Nervousness in using public transport, resulting in strong demand for used vehicles and thereby, benefitting residual values(which is likely to continue ifshortages of new product persist) + The September registration plate change Following a modest loss at the operating and adj. PBT levels during H1, the MMH managementteamconservatively anticipates anoverall break-even position for 2020 as a whole, also citing the potential for further localised lockdowns as a basis for a degree of ongoing cautionin the short-term. The SMMT anticipates that the number of new cars purchased in 2021 should increase 26.9% to 2.04m vehicles, offering a positive outlook, particularly for the healthier market participants as consolidation is expected by various market watchers to accelerate over the next 12 to 18 months.Rather than amounting to an unrealistic target, the SMMT forecast for new car sales in 2021 represents a 12% reduction on the 2019 market outcome. Furthermore, MMH’s management team is of the view that consolidation in the automotive retail market is likely to accelerate, following the issues resulting from lockdown and the stress placed on the economy. MMH fully expects to participate in such consolidation.
55biker: I agree and MMH looks well placed to capitalise on this going forward because some less well run Dealerships will probably really struggle to recover. At least the low share price is underpinned by a substantial NAV!
this_is_me: You quote one estimate as being 3 times another - nobody knows. Similarly results from cruse ships indicate over 80% of those infected have no symptoms at all, others give a much reduced figure. It is still true that nobody that I know that has had the disease has been added to government statistics. I looks like it will take a year for the motor trade to return to normal. I haven't filled my car up since March and that will kick servicing requirements down the road. MMH looks like it will be one of the long term winners.
mw8156: 162 dead in the local medium sized hospital, neighbouring hospitals are 340, 420, 450, 800 Barts, some in their 20s without preexisting medical conditions, no doubt, Reading had 50 on ventilators at one time, now down to a more manageable 11 so threatened to be overwhelmed: would have thought the lockdown was necessary otherwise there would have been an exponential rise in hospitalisations, shortage of oxygen, more deaths and third world care for some, granted, the disease may well soon reappear when lockdown is lifted, there is no vaccine or decent therapy and the NHS could be better managed, they should have laid off/given a sabbatical to a lot of their peripheral staff, like me, who have been largely idle while this has been going on, but do believe lockdown was necessary and had to take precedence over eg selling/servicing cars, many imported, in the last several months and that's said as a Family shareholder in MMH, VTU and CAMB so should have a balanced view.
55biker: With the share price as much as £1 below NAV per share .............and now a very positive Election result there must be a lot of upside during 2020 for this and the CEO has a great track record in delivering results.
essentialinvestor: Thanks for the links. I bought a nearly new S90 Inscription Pro from MMH. The deal was so good went up to Grantham to purchase. When refering to the cycle turning, we are not in recession, just slow growth/ reduced consumer confidence. You really only know how robust a cyclical business is when you have a recession proper, with GDP turning negative.
edmundshaw: Of course, they may be able to improve profitability by closing the worst performing unit(s) of the acquisitions if necessary, and with contiguous sites that might also improve profits at those other Marshalls sites. So it is not certain they will need a turnaround on all the acquired businesses. Meanwhile, the cycle will turn at some point and help us out, too, and the freehold continues to grow without share dilution... Feeling quite positive here after watching Jeff's links (thanks) and thinking about this for a bit longer...
edmundshaw: So is this expansion long term thinking or profit-agnostic empire building? Or even simply careless splashing out the excess cash being generated over and above needs for the business and the enhanced dividend? From past experience MMH is pretty good at deal-making and not over-paying. I don't believe he would throw cash around carelessly just because it is burning a hole in the company's pocket, so I am expecting he sees these initially earnings-dilutive businesses as genuinely good turnaround prospects. But everyone has to form their own opinion... Trading update, given recent conditions in the sector, is excellent.
Marshall Motor share price data is direct from the London Stock Exchange
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