Turnover nears £1bn at Derby car dealership giant

Derby car retail giant Motorpoint has reported a “strong” performance as it posted its annual results this morning (12 June).

Profit before tax was up 70.9% to £20m, while turnover increased by 20% to £991.2m.

The firm, which has a £10m share buyback underway, opened its 12th site in Sheffield last year.

Mark Carpenter, chief executive, 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 oriented proposition and winning further market share.

“Whilst 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.”