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Motorpoint Group PLC on Wednesday said that ‘strong’ momentum has continued into its second financial half, as it announced a profit surge for its first financial half. The Derby, England-based car retailer said pretax profit jumped 80% to £3.6 million in the six months to September 30, from £2.0 million a year ago. Revenue grew 15% to £647.7 million from £563.1 million. Operating expenditure increased 6.2% to £41.0 million from £38.6 million, while administrative costs increased 6.1% to £31.1 million from £29.3 million. Motorpoint declared an interim dividend of 1.0 pence per share, compared to none a year ago. Looking ahead, the company said ‘strong’ momentum continued into the second financial half as it delivered retail volume growth of 8.1% in October. Further, it noted an acceleration of strategic growth plans. Chief Executive Officer Mark Carpenter said: ‘With technology, data and artificial intelligence integral to our growth strategy going forward, we are also excited by several other strategic initiatives including new store openings, investment in existing stores and the expansion of our supply channels. ‘While we are mindful of the imminent autumn budget, and the subsequent effect on the consumer environment, trading since the period end confirms that demand for Motorpoint cars remains strong. We therefore remain confident in our competitive offering and believe we are well positioned to continue to grow our position in the market while delivering sustainable shareholder value.’ Motorpoint shares were down 0.7% at 153.50 pence each on Wednesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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