5th Oct 2018 07:58
LONDON (Alliance News) - Motorpoint Group PLC on Friday said it expects to report revenue growth for its most recent half year, and the firm's outlook is optimistic.
For the six months to September, the vehicle retailer is expecting to report revenue growth of approximately 9% year-on-year. Interim profit in its prior year was GBP483.2 million, 18% higher year-on-year.
Motorpoint said that its operating margin performance for the period was at "a similar level" to the year before.
The company, which principally sells "nearly-new" vehicles, said it has retained a focus on its stock management, and is pleased by the breadth and quality of its stock as it enters the second half of its financial year.
"The board continues to closely monitor customer confidence in light of the ongoing economic and political uncertainty," said Motorpoint.
"However, the board is encouraged with the recent trading performance and remains confident that Motorpoint's independent and flexible model leaves it well placed to increase market share," the company added.
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