Motorpoint Plc Ord (MTPTF) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

morning everyone thank you for joining us for the most point group plc half year results for 2023 our financial year to 31st of march and our strategy update um this morning we're going to be looking at our uh oh there you go our uh our half one results which i'll take you through um our cfo chris morgan also joins me will be taking us through our financial results and ESG update. And they'll come back to me for a strategy update and outlook, and then we'll take any questions. So just to clarify a little bit, for those who don't know who we are, this is a beautiful photo of our new Coventry branch. But Motorpoint is the UK's leading omnichannel used car retailer. We only sell used cars. We only sell up to four years old and 30,000 miles. And currently we're investing for significant and profitable long-term growth. So many areas of investment and our key targets are to grow our market share through building our brand and rolling out our footprint across the rest of the United Kingdom. Again, just a reminder who we are. We have two distinct channels. We have a retail part of our business, which is the Motorpoint branded locations and also Motorpoint.co.uk. And through that, we sell the vehicles to the criteria mentioned earlier into consumers and also light commercial vehicles or vans, as we would call them. We have two businesses. The second part is auctionforcars.com. which is a trade-only website. So these are the vehicles that are above our criteria of four years old or 30,000 miles. And we sell those into the wholesale market through an entirely online process. Our operating model is the Motorway Virtuous Circle. It's very important to us, this model. It's been with us since I joined the business and our three key stakeholders of employees, customers and sharehol...