14th Jun 2023 11:34
Motorpoint Group PLC - Derby, England-based automotive retailer - Swings to a pretax loss of GBP300,000 for the financial year that ended on March 31 from a profit of GBP21.5 million the previous year. Revenue ticks up to GBP1.44 billion from GBP1.32 billion, but Motorpoint says the swing to loss is caused by rising financing costs, limited stock availability, and the fall in the value of electric vehicles. The company also increases strategic investment to GBP6.1 million from GBP1.0 million, and finance expense rises to GBP7.1 million from GBP3.5 million the year before. Read More