Half Year Trading Update and Notice of Results

Motorpoint

05/10/2018 07:00

RNS Number : 0422D

Motorpoint Group plc

05 October 2018

 

5 October 2018

 

Motorpoint Group PLC

("Motorpoint" or the "Group")

 

Half Year Trading Update and Notice of Results

 

Motorpoint Group PLC, the UK's largest independent vehicle retailer, is pleased to announce the following trading update ahead of its Interim Results for the half year ended 30 September 2018.

 

The Group expects to report revenue growth of circa 9% compared to the same period last year.  The Group's Operating Margin has performed at a similar level to the same period last year.

 

Stock management and mix remains a key focus and we are pleased that the breadth and quality of stock on hand going into the second half of the year is strong.

 

Motorpoint's 12th site, in Sheffield, reached its first anniversary in the period and is delivering an encouraging performance.  The Group continues to evaluate opportunities for its 13th retail site, with a pipeline of new site options under review.

 

Outlook

 

The Board continues to closely monitor customer confidence in light of the ongoing economic and political uncertainty. However, the Board is encouraged with the recent trading performance and remains confident that Motorpoint's independent and flexible model leaves it well placed to increase market share.

 

Interim Results

 

The Group will publish its Interim Results for the half year ended 30 September 2018 on 29 November 2018.

 

 

Enquiries:

 

Motorpoint Group PLC
Mark Carpenter, Chief Executive Officer
James Gilmour, Chief Financial Officer
via FTI Consulting
FTI Consulting (Financial PR)
Jonathon Brill
Alex Beagley
James Styles
020 3727 1000

 

 

Notes to editors

 

Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's 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. Motorpoint sells vehicles from brands representing over 95 per cent of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 12 retail sites across the United Kingdom; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford, Oldbury and Sheffield of which four have opened in the last three years; together with a national contact-centre dealing with online enquiries.

 

More information is available at www.motorpointplc.com and www.motorpoint.co.uk.

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END

 

 

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