23 March 2020 – update

In light of the current situation with COVID-19, the company is temporarily closing all of its retail sites across the country.  Key brand partners and banks have been consulted on this decision and remain extremely supportive.  Aftersales services are still being provided to key workers where possible throughout this temporary shutdown.  The group believes that it has the financial capacity to withstand the impact of a closure of its sites well beyond the end of June 2020.  Existing financial guidance for the year ending 31 December 2020 is withdrawn and payment of the previously announced final dividend of 5.69p per share for the year ended 31 December 2019 is being suspended.  We believe a HOLD rating is fair in the circumstances.