Business
Full Year Trading Update & further share buyback
Full Year Trading Update & further share buyback.
About this update from Motorpoint Group Plc
[{"type":"text","content":"\n\n \n3 April 2025\nMotorpoint Group PLC\n(\"Motorpoint\" \"Company \" or the \"Group\")\n \nQ4 and Full Year Trading Update, and\ncommencement of further share buyback\n \n \nMotorpoint Group PLC, the UK's leading independent omnichannel vehicle retailer, provides an update on its trading performance for the fourth quarter and year ended 31 March 2025 ahead of announcing its Final Results in June 2025.\n \nHighlights:\n \n· Strong return to profitable growth\n· Full year retail volumes up c.14.0% on FY24\n· Strong outperformance of the used car market. In the 0-6 year category, for the 12 months to 31 December 2024, Motorpoint's retail sales volumes grew 14.8% year on year, against 2.8% market growth\n· Group expects to report Earnings Before Interest and Tax and Profit Before Tax for the full year within the ranges of £13.3m to £13.6m (FY24: £(0.6)m), and £4.0m to £4.3m (FY24: £(10.4)m), respectively, representing significant improvement\n· Our 21st store opened in Norwich in early December and is trading well; we continue to evaluate further store opening opportunities\n· Balance sheet robust with no structural debt and c.£6m of cash at 31 March 2025, despite significant vehicle purchasing throughout March 2025. Strong stock position as we commence FY26\n· Improving Net Promoter Score (NPS) and tracking over 80 in H2 FY25\n· A further share buyback announced to repurchase and cancel up to 3m shares\n \nPositive momentum continued through H2 FY25, with strong retail unit volumes, which translated into profitable growth. For the 12 months to 31 December 2024, we significantly outperformed the 0-6 year used car market, growing retail sales volumes by 14.8%. As anticipated, growth moderated in Q4 as we lapped tougher comparatives alongside a continuing subdued consumer backdrop although margins continued to be generally stable. High interest rates continue to hamper finance commission performance and stock funding costs.\n \nWe continued to enhance our digital capabilities during the period, which translated into increased website traffic and resultant leads. Our use of more advanced data analytics continues to expand, and we expect to see further ...