24th Jul 2018 10:22
LONDON (Alliance News) - Vehicle retailer Motorpoint Group PLC said Tuesday that first-quarter sales and profit have been solid, and this has continued at a consistent pace into the early weeks of the second quarter.
"Group stock and immediate supply outlook are strong, and the board remains confident of delivering the full-year performance in line with management expectations," Chairman Mark Morris said in his annual general meeting statement.
In June, Motorpoint Group PLC hiked its dividend by 57% on the back of strong surge in earnings and revenue.
For the year ended March 31, pretax profit jumped 71% to GBP20.0 million from GBP11.7 million the year prior. This is after revenue rose 21% to GBP991.2 million from GBP822.0 million the year before.
Motorpoint proposed a 4.6 pence per share final dividend, up 59% from 2.9p the year prior. For the full year, the dividend rose 57% to 6.6p from 4.2p the year before.
Shares in the company were trading 0.8% lower at 238.00 pence each.
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