We are the largest independent vehicle retailer in the United Kingdom and our principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles.We sell vehicles from brands representing over 95 per cent of marques, operating from 10 retail sites across Great Britain, of which five have opened in the last four years.





18 May 2016

Motorpoint Group plc

Admission to trading on the London Stock Exchange

StockMarketWire.com
Motorpoint Group posted a large rise in first-half profit as the addition of new car dealership sites helped boost revenue.

Pre-tax profit jumped to £9.7m from £2.4m a year earlier after revenue increased by 18% to £483.2m.

The company declared an interim dividend of 2.0p, up from 1.33p a year earlier.

"The second half has started well and the Group's resilient business model and focus on delivering choice, value and service leaves it ideally positioned to continue its market share growth of nearly new car sales," chief executive Mark Carpenter said.

"Whilst market conditions are always subject to external changes, the supply of stock coming into the business remains good and management are comfortable with the group's trading performance so far in H2."

"The board is therefore confident of delivering full year results in line with market expectations."

Motorpoint Group expects profit at top end of market expectations
StockMarketWire.com
Vehicle retailer Motorpoint Group said it expected to deliver an underlying profit for the current financial year at the upper end of market expectations.

Revenue was expected to grow by 18%, with gross margins remaining 'stable'.

The company said its most recent outlet openings, in Castleford, Oldbury and Sheffield, were all performing in line with its new site-contribution model.

Motorpoint said it was reiterating its commitment to a share buyback programme of up to £10m announced on 29 November.

'Notwithstanding the macroeconomic uncertainty, the board remains cautiously optimistic about the UK used vehicle market and is confident that Motorpoint's flexible stock sourcing model ensures the group is well placed to continue to grow market share,' the company said.

At 9:58am: (LON:MOTR) Motorpoint Group Plc share price was +17p at 234p


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