(Sharecast News) - Vehicle retailer Motorpoint said on Thursday that it had returned to "strong" profitable growth in the year ended 31 March as "positive momentum" continued through H2.
Motorpoint said FY retail volumes were up roughly 14.0% as it delivered a "strong outperformance" of the used car market, with retail sales volumes growing 14.8% year-on-year in the 0-6 year category, against 2.8% market growth
The London-listed group now expects to report FY underlying earnings and pre-tax profits within the ranges of £13.3m-13.6m and £4.0m-4.3m, respectively, representing a "significant improvement" on FY24's underlying and pre-tax losses of £600,000 and £10.4m.
Motorpoint added that its balance sheet was "robust", with no structural debt and approximately £6.0m of cash, despite "significant vehicle purchasing" throughout March 2025 in order to give it a "strong stock position" going into FY26.
As of 0930 BST, Motorpoint shares were up 1.22% at 128.04p.
Reporting by Iain Gilbert at Sharecast.com
Motorpoint (MOTR)
