UK's Motorpoint Group jumps on improved Q1 trading performance
26/07/2023 08:40
** Shares of vehicle retailer Motorpoint Group MOTR.L up
about 5.9% at 108 pence
** Stock set for biggest one-day pct rise in nearly 1-1/2
years, if gains hold
** Co says trading performance improved throughout Q1
** Improving margins, streamlining organisational structure
and reducing discretionary capital spends helped negate
difficult macroeconomic conditions in Q1 - co
** Expects performance trend to continue in Q2, reflecting
further improvements in margins and cost base reductions
** Stock down ~25.5% YTD
(Reporting by Richard Rohan Francis in Bengaluru)
((Richardrohan.francis@thomsonreuters.com))