Derby car dealership giant heading for £15m profit

Derby-based car dealership giant Motorpoint says it expects to make a profit of around £15.5m for the year-ending 31 March.

In an announcement this morning (6 April), Motorpoint said that revenues are also expected to rise by 12.5% to £820m.

The firm is set to open its twelfth site in Sheffield later this month.

Mark Carpenter, chief executive officer, said: “We are pleased with our improved trading performance in the second half of the year, with the business responding well following the pricing actions of the first half, thereby driving profit towards the top end of consensus range. We anticipate continued growth in revenues and profits, with an encouraging performance from our new sites.

“Motorpoint operates a compelling customer proposition and is well placed to continue building on the competitive advantages of its unique model. With four sites under three years old and our new Sheffield site opening in April, we are excited about the Group’s prospects and look to the future with confidence.”

Motorpoint will publish its final results for the year ended 31 March 2017 on 12 June 2017.