Motorpoint Plc Ord (MTPTF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and welcome to MotorPoint's half-year 2024 results and strategy update presentation. Today, I'm joined by Chris Morgan, our CFO, and I'm Mark Carpenter, CEO of MotorPoint. Today, we'll take you through the half-year highlights for the six months to September 30, 2023. I'll then hand over to Chris to do some financial highlights and give an update on our ESG strategy. And then we will return to me for our strategic update and, of course, our outlook for the remainder of the year. Just a quick reminder, MotorPoint, our first year, six-month period for... One of the key things we've been focusing on in the year, and we've much reduced our focus on certain activities to ensure that we are investing in strategic opportunities of the best ROI, but also focusing on the basics of what has made MotorPoint a great company to be a lean cost-based business, improve our stock turn to be faster, both of which allow us to offer the lowest prices in the market. The business remains the same in terms that we have two brands, Motorpoint, which is our retail-facing brand, and auctionforcars.com, our wholesale channel. and we have amended our criteria during the period which we've come to and our retail criteria is now vehicles under five years and fifty thousand miles and then vehicles outside that criteria are disposed through our wholesale channel auction cars and we source vehicles for both of those channels direct from consumers via our sell your car that c2b channel and obviously then part exchanges where a customer is buying a vehicle from us and sell us their old vehicle one of the key things about mountain point is our operating model which we use every day to make decisions in the business and we also explain the business in this way to our new starter...