Motorpoint sees pre-tax profit rocket to £20m

Time 9:47 am, June 12, 2018

CAR supermarket group Motorpoint today announced a pre-tax profit rise of 70.9 per cent to £20m.

The independent car retailer, which has 12 showrooms across England, Scotland and Wales, also revealed in its final results for the year ending March 31 that its revenue had increased by 20.6 per cent to £991.2m. Profit before tax and exceptional items was up by 32.5 per cent to £20.8m.

It is proposing a final dividend of 4.6p per share, giving a full-year dividend of 6.6p – an increase of 57.1 per cent on the previous financial year.

Operational highlights for the company over the past financial year have included opening its 12th retail site and achieving 42nd position in the Sunday Times Best Companies To Work For list – its fourth consecutive year in the top 100.

It also enjoyed record levels of repeat customers, increasing to 26.2 per cent of total customers, which was up from 25 per cent the previous financial year.

Chief executive Mark Carpenter, pictured, said: ‘The group has delivered a strong performance over the year and I am pleased with the progress we continue to make as a business. With our 12th site in Sheffield having opened in the year, we remain focused on the geographic expansion of our compelling, value-orientated proposition and winning further market share.

‘At Motorpoint, we are committed to providing an exceptional service to our customers and this can be seen in the record numbers of repeat customers we are welcoming back through our doors. Our people are at the heart of what we do and we are proud of the values which guide and shape our company.

‘While we are mindful of the wider economic and political climate, thanks to our differentiated business model we are well positioned to continue to grow and are confident about our prospects for the year ahead.’

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