Motorpoint set to accelerate profits
Motorpoint, the Derby-based car retailer, says it expects its half year results to the end of September to show strong year-on-year sales growth.
The firm says that since its sites reopened in June, demand levels have exceeded management’s expectations.
Motorpoint says it returned to profit in June having lost £3.4m in April and May and that its online sales helped contribute towards around 36% of sales in the three months to the end of September.
The company said that profit before tax for the six months will be ahead of 2019.
Mark Carpenter, CEO of Motorpoint, said: “I would like to thank all of our people for their hard work and resilience through these unprecedented times. The Group has emerged from lockdown in great shape and this is testament to the team and their agility and adaptability in these ever-changing times. Our Home Delivery and Click & Collect offerings continue to gather momentum and I look forward to opening our 14th retail site, in Stockton on Tees, at the end of 2020.
“As a result of the Group’s performance in the three months since our sites reopened, and notwithstanding the potential of future regional or nationwide lockdowns, the Board continues to look to the future with confidence.”
