Motorpoint blames Brexit vote for poor first half

Motorpoint blames Brexit vote for poor first half

There aren't too many companies directly blaming the EU referendum for poor results. But bosses at newly listed 'car supermarket' Motorpoint (MOTR) are doing exactly that. Chief executive Mark Carpenter said the retailer of 'new and nearly new' cars (up to three-years old) was forced to take "direct action" on prices as demand slowed in the lead up to the vote, with the impact on margins exacerbated by higher costs from new openings. Hence the crash in pre-tax profits.

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