Motorpoint Group, the independent omnichannel vehicle retailer, has hailed a “strong return to profitable growth” in a trading update for the year ended 31 March 2025.
The Derby business expects to report a profit before tax for the year within the ranges of £4m to £4.3m, representing significant improvement on a £10.4m loss in the prior year.
In early December the firm opened its 21st store, in Norwich.
Motorpoint has also announced a share buyback to repurchase up to 3m ordinary shares, with an aggregate purchase price of no more than approximately £4m.
Mark Carpenter, Chief Executive Officer of Motorpoint Group PLC, said: “Having returned to profitability in the first half of FY25, I am very pleased with our performance across the full year, delivering profitable growth and significantly outperforming the wider used car market.
“We recommenced our new store opening programme with the Group’s 21st store opening in Norwich in December 2024. Notwithstanding the ongoing consumer and macroeconomic environment, Motorpoint is in a strong position to grow further, and I am cautiously optimistic for the FY26 outlook.
“I am also pleased to announce a further share buyback programme, following the successful completion of last year’s £5 million buyback. This reflects both our ability to generate strong cash flow whilst achieving sustainable growth, and our focus on delivering attractive returns to shareholders.”
