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Car supermarket Motorpoint says revenues are up and margins flat

Motorpoint Glasgow

Motorpoint, the UK's largest independent car dealer, has informed investors it expects to report rising revenues and flat margins from trading in the first half of its financial year.

In a trading update to the London Stock Exchange, the company said it 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, it said.

"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," said the statement.

Motorpoint's 12th site, in Sheffield, reached its first anniversary in the period and is delivering an encouraging performance, the group said

The group continues to evaluate opportunities for its 13th retail site, with a pipeline of new site options under review.

"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," the company added.

Its interim results for the half year ended September 30 will be published on November 29.

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