Results 

Motorpoint marks better first half

Motorpoint marks better first half

Motorpoint (MOTR) – a motor retailer specialising in 'nearly new' vehicles – released a far better set of half-year results compared with this time last year, enough to push the shares 5 per cent higher on the day. Revenues during the first half rose by nearly a fifth thanks to a similar rise in repeat business, while a 64 per cent rise in adjusted pre-tax profits to £10.5m was consistent with analysts' expectations. In the words of broker Numis, the numbers reflected “a convincing return to form” after the group reported a disappointing first-half performance this time last year. Bosses were forced to slash prices in the wake of the Brexit vote and the subsequent fall in the value of sterling.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

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