7:59 am, June 12, 2025
Motorpoint is back in the black after swinging into profit last year, latest accounts show.
Final results for the year ended March 31, 2025, reveal the used car supermarket group returned to profitability, with bosses declaring the company’s turnaround plan has worked.
Revenue soared by £86.5m to £1.17bn, boosted by double-digit year on year growth, and margin performance improvement.
The company sold 87,700 cars last year, up by 12.4%, while days in stock shrunk by two days to 43 days. Motorpoint’s share of the zero-to-six-year-old market rose by 26 basis points to 2.37%.
Meanwhile, gross profit margins jumped by 100 basis points to 7.7%, and retail gross profit per unit was lifted by £113 to £1,335, and gross profit per unit rose by £42 to £388.
It all translated to Motorpoint performing a sharp U-turn, returning to the black after suffering eye-watering losses and its ‘most difficult year ever’ in 2023.
A loss of £10.4m in FY24 swung to a £4.1m profit in FY25, while gross profit jumped by £17.7m to £90.8m.
Basic earnings per share came to 3.7p, and a proposed final dividend for the year was 1.0p.
The financial results might draw a line under a brutal period in Motorpoint’s history.
Along with booking a £10.4m loss in FY24, it was forced to axe 60 jobs in July 2023, and was labelled as ‘overvalued’ by brokers.
Motorpoint, one of the UK’s leading car supermarkets, was battered by falling used car prices in the first half of 2023.
Commenting on the latest results, CEO Mark Carpenter said: ‘I am extremely pleased with our performance in FY25.
‘Motorpoint has experienced several years of considerable economic headwinds that have hampered our industry. We responded in FY24 with our Brilliant Basics programme which rightsized the business and improved margin performance. This successfully laid the foundations for growth and in FY25 resulted in double digit year on year volume growth, significant gains in market share, faster stock turn, and a welcome return to profitability.
‘I am also delighted that our customer NPS improved through the year, reaching record levels in the final quarter, and that we have been recognised as one of the Sunday Times’ best big places to work.’
He added: ‘Recent falls in interest rates are welcome, although they remain relatively high, and supply continues to slowly improve, with more bulk deals available of newer stock.
‘We remain cautious while conditions for the consumer remain uncertain but are well placed to continue to grow profitably and outperform the market. This will allow us to continue to invest in our strategic objectives, and accelerate activity over time as conditions allow, in addition to returning excess capital to shareholders.’
