11th Jun 2019 11:47
(Alliance News) - Motorpoint Group PLC on Tuesday expressed confident outlook for the year ahead after achieving a "record" sales of over GBP1 billion for the first time.
The vehicle retailer said pretax profit in the year to the end of March rose to GBP22.9 million from GBP20.0 million the year prior, as revenue grew to GBP1.06 billion from GBP991.2 million.
The company said it saw record levels of repeat customers, which increased to 30% of total customers, up from 26% last year.
Motorpoint proposed final dividend of 5.0 pence a share, taking the total payout for the year to 7.5p, up from 6.6p paid the year before. The company said it returned GBP15.7 million of cash to its shareholders during the year through dividends and buyback programme.
Motorpoint said it acquired 13th retail site, which it expects to open in the second half of its financial 2020, while its Peterborough Preparation Centre development is on track for opening in the first half of its financial 2020.
"In spite of what remains a challenging market backdrop, as has been well documented, we are well positioned at the beginning of the new financial year with a healthy and competitive stock mix. As a group, we are confident about the opportunities ahead," said Chief Executive Mark Carpenter.
Motorpoint shares were trading 1.9% higher on Tuesday midday at 215.00p each.
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