Motorpoint Group plc Half Year Trading Update and Notice of Results (0422D)
October 05 2018 - 2:00AM
UK Regulatory
TIDMMOTR
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 12(th) site, in Sheffield, reached its first
anniversary in the period and is delivering an encouraging
performance. The Group continues to evaluate opportunities for its
13(th) 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 via FTI Consulting
Mark Carpenter, Chief Executive
Officer
James Gilmour, Chief Financial
Officer
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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