RE: Reasons to be chearful....23 Dec 2016 12:58
Skid35 - I bought in a 137p a few months ago, after looking at the director buys in October at 138p and looked a good investment. Was a bit surprised about the interim results where net profit had dropped from 10m to 2m. Although when you read in more detail MOTR had unexpected additional costs this year of 4m after joining the lse, so I'm looking at it more like 6m net profit. MOTR have also acquired 3 or 4 new sites which should start to be reflect next year I'm sure. I don't know why the RNS from Monday is not showing on here but Merrill lynch international bought nearly 6m shares on Monday, hopefully a very positive sign of things to come. Finally a friend of mine who has his own used car supermarket has bought some MOTR which surely must be a good sign. The motor trade has had a tough year around Brexit and peoples uncertainty to make big ticket item purchases, but people will get bored putting off their car purchases soon and I'm sure volumes will increase in the new year, as will the SP, nice to see 130p today. Good luck and merry Xmas !