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Marshall Motor Holdings report significant increase to FY2021 expectations 7:09 am
Marshall Motor Holdings Plc (LON:MMH), one of the UK’s leading automotive retail groups, provides the following trading update given a significant increase in its full year expectations for 2021.
On 25 June 2021, the Group announced that it expected to deliver underlying profit before tax for the full year well ahead of the Group’s historic record result. This performance has been underpinned by a market which has benefited from positive tailwinds since April, including unprecedented used vehicle value appreciation and favourable demand-to-supply conditions for both new and used vehicles.
Those tailwinds continued in July and the Group now has initial visibility on the outlook for August and September.
Provided by Dow Jones FTSE 100 Rises; Taylor Wimpey, Legal & General Gain After Earnings The FTSE 100 rises 0.4% to 7135 points as investors react to upbeat corporate earnings and await economic data on U.K. services activity and the U.S. labor market. Taylor Wimpey gains 3.9%, sending rival housebuilders higher, as it raised its full-year profit target after swinging to a first-half profit. Legal & General climbs 1.4% after the insurance company posted a rise in first-half operating profit and said its performance for the period was well above pre-pandemic levels. The final July U.K. services purchasing managers index survey is due at 0830 GMT and July s U.S. ADP private payrolls report is at 1215 GMT.