|
Motorpoint Group PLC - Derby, England-based vehicle retailer - Says operating profit and pretax profit for its financial year ended March 31 will be in line with management expectations. Tips revenue at around £1.32 billion, up 82% from £722 million. E-commerce is expected to come in 43% higher at about £600 million in financial 2022 from £419 million the year before. Motorpoint says it is making progress towards new strategic objectives to increase growth. 58% of its transactions are online in the financial year, down from 69% a year before when online sales were inflated due to branch closures resulting from the pandemic lockdowns, the company explains.
Reports rising inflation and vehicle supply challenges will likely affect company performance, but its extent is difficult to predict in the short term.
‘We remain confident in our medium-term strategic objectives and are excited in our potential to grow substantially as we continue to invest in our brand, infrastructure and technology, ’ says Chief Executive Officer Mark Carpenter.
Current stock price: 267.37, down 1.0% on Wednesday
12-month change: up 2.4%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
