Last checked at 5 Oct 2018 07:00
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.