8:25 am, April 3, 2025
Motorpoint has bounced back from its ‘most difficult year ever’ to return to profitability in 2025.
That is according to a trading update published by the firm this morning, which reveals that the used car supermarket group ‘significantly outperformed the wider used car market’ in the year ending March 31.
Documents submitted to the London Stock Exchange reveal that the company is expecting to make a pre-tax profit of between £4m and £4.3m.
The outfit’s full accounts are expected in June but such a result would represent a remarkable turnaround on 2024, when Motorpoint made an eye-watering loss of £8.2m.
Elsewhere, the update reveals that full year retail volumes were up 14% on 2024, boosted by the opening of the firm’s 21st store, in Norwich, back in December.
Motorpoint ended the year with a ‘robust’ balance sheet, no structural debt and around £6m of cash, despite ‘significant vehicle purchasing throughout March 2025’
Bosses say that growth did ‘moderate’ during Q4 but margins continued to be ‘generally stable’.
Looking ahead, the outfit says it is ‘cautiously optimistic’ about what 2026 will hold as it looks to keep expanding its network of retail points.
Mark Carpenter, CEO of Motorpoint Group PLC, said: ‘Having returned to profitability in the first half of FY25, I am very pleased with our performance across the full year, delivering profitable growth and significantly outperforming the wider used car market.
‘We recommenced our new store opening programme with the Group’s 21st store opening in Norwich in December 2024.
‘Notwithstanding the ongoing consumer and macroeconomic environment, Motorpoint is in a strong position to grow further, and I am cautiously optimistic for the FY26 outlook.’
Also in the trading update, Motorpoint announced plans for a share buyback programme to repurchase up to three million ordinary shares of 1p each.
That represents around 3.5% of the company’s ordinary shares and follows a similar programme last year, which ended up costing around £5m.
Carpenter added: ‘I am also pleased to announce a further share buyback programme, following the successful completion of last year’s £5m buyback.
‘This reflects both our ability to generate strong cash flow whilst achieving sustainable growth, and our focus on delivering attractive returns to shareholders.’
