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Auto dealer Marshall Motor upgraded its earnings guidance, citing higher used car prices and increased demand for both new and used vehicles.
Continuing underlying pre-tax profit for the year through December was now expected to be not less than £40.0 million.
The company had on 25 June announced that it expected to deliver a pre-tax profit 'well ahead' is 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,' Marshal Motor said.
'Those tailwinds continued in July and the group now has initial visibility on the outlook for August and September.'
Still, the company said there remained a high level of uncertainty over the second half of 2021 and into 2022 given well documented vehicle supply issues and an expected realignment of used vehicle values.
'Given these uncertainties, there remains a range of possible outcomes for the year,' it said.
'However, the board now expects that continuing underlying profit before tax for 2021 will be not less than £40.0 million.'