Shares 

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.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Register
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now