Motorpoint Group (MOTR)

Sector:

Retailers

Index:

FTSE Small Cap

124.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 174.50
  • 52 Week Low: 75.00
  • Currency: UK Pounds
  • Shares Issued: 86.62m
  • Volume: 7,916
  • Market Cap: £107.41m
  • Beta: 0.09

Motorpoint swings to H1 loss

By Iain Gilbert

Date: Thursday 23 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Automotive group Motorpoint said on Thursday that it had swung to an interim loss and warned of a marked decline in used car values early on in the second half.
Motorpoint said revenues were down 22.8% in the six months ended 30 September at £607.2m, with gross profits dropping a similar 22.6% to £37.7m. Retail volumes slumped 18.4%, while wholesale volumes were down 22.4%, and online sales were 36% lower.

As a result, Motorpoint fell from a pre-tax profit of £3.0m in 2022 to a pre-tax loss of £3.7m just one year later, principally due to finance expenses ballooning to £5.3m from £2.9m and costs associated with the group's restructurnig programme.

Chief executive Mark Carpenter said: "The rapid fall in used car values since the period end is unquestionably a near-term challenge, however, it also provides reassuring signs of supply finally beginning to improve in the nearly new market that we have dominated in the past.

"I believe next year will be a key turning point for the market and I look to the future with confidence."

Motorpoint added that the impact of high inflation, interest rates, and consumer uncertainty continued to affect demand for used cars, impacting their value, with a reduction in wholesale values of roughly 6% in just the last six weeks.

As of 0940 GMT, Motorpoint shares were down 5.68% at 73.0p.





Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MOTR Market Data

Currency UK Pounds
Share Price 124.00p
Change Today -0.50p
% Change -0.40 %
52 Week High 174.50
52 Week Low 75.00
Volume 7,916
Shares Issued 86.62m
Market Cap £107.41m
Beta 0.09

MOTR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.95% below the market average46.95% below the market average46.95% below the market average46.95% below the market average46.95% below the market average
46.34% below the sector average46.34% below the sector average46.34% below the sector average46.34% below the sector average46.34% below the sector average
Price Trend
9.16% above the market average9.16% above the market average9.16% above the market average9.16% above the market average9.16% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income Not Available
Growth
20.21% below the market average20.21% below the market average20.21% below the market average20.21% below the market average20.21% below the market average
9.52% below the sector average9.52% below the sector average9.52% below the sector average9.52% below the sector average9.52% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MOTR Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Feb-20 15-Aug-19
Paid 13-Mar-20 20-Sep-19
Amount 2.60p 5.00p

Trades for 21-Nov-2024

Time Volume / Share Price
16:29 15 @ 122.50p
15:41 1,000 @ 125.00p
12:55 3,000 @ 123.50p
12:55 372 @ 124.00p
12:55 1,535 @ 124.00p

MOTR Key Personnel

CFO Chris Morgan

Top of Page