24
July 2024
Motorpoint Group
PLC
("Motorpoint" or the "Group")
AGM Trading
Update
Motorpoint Group PLC, the UK's
leading independent omnichannel used vehicle retailer, announces
that John Walden, Chair of Motorpoint, will
make the following statement at the Company's Annual General
Meeting, to be held at 10:00am BST today, which is an update on
trading for the first quarter ("Q1") of the financial year ending
31 March 2025 ("FY25"):
"The Board is pleased to report that
the positive start to FY25, as outlined in the Final Results on 13
June 2024, has continued. Retail sales in Q1 grew strongly on the
equivalent period in FY24. The Board remains confident that vehicle
supply should increase, customer sentiment will continue to improve
and that the Group will achieve its expectations for the full year.
Net cash at 30 June 2024 was c.£6.5m, despite the Group having now
bought back and cancelled 2.5m shares at a cost of
£3.5m."
Motorpoint will provide an update on
trading for the six months ending 30 September 2024 in October
2024.
Enquiries:
|
Motorpoint Group PLC
Mark Carpenter, Chief Executive
Officer
Chris Morgan, Chief Financial
Officer
|
via FTI Consulting
|
|
FTI
Consulting (Financial PR)
Alex Beagley
Harriet Jackson
Amy Goldup
|
020 3727 1000
|
Forward looking statements: The information in this release is based on management
information. This report includes statements that are forward
looking in nature. Forward looking statements involve known and
unknown risks, assumptions, uncertainties and other factors which
may cause the actual results, performance or achievements of the
Group to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Except as required by the Listing Rules and
applicable law, the Company undertakes no obligation to update,
revise or change any forward looking statements to reflect events
or developments occurring after the date of this report.
Notes to editors
Motorpoint is the UK's leading
independent E-commerce led omnichannel vehicle retailer, focused on
giving retail and trade customers the easiest, most affordable and
seamless way of buying, selling and financing their car whether
online, in store or a combination of both. Through its leading B2C
platform Motorpoint.co.uk and UK network of 20 sales and collection
stores, the Group provides an unrivalled offering in the nearly new
car market, where consumers can effortlessly browse, buy or finance
their next car and collect or have it delivered directly to their
homes. Motorpoint's purely online wholesale platform
Auction4Cars.com sells vehicles into the wholesale B2B market that
have been part exchanged by retail customers, or purchased directly
from them by the Group as part of its online car buying service.
Motorpoint's diversified business model, underpinned by its
established brand, industry leading technology and sophisticated
marketing infrastructure, always delivers the best choice, value,
service and quality for customers.
