Motorpoint bounced back into profit in the year to 31 March 2025 with pre-tax profits of £4.1m in compared to -£10.4m loss in the prior year on turnover up 8.3% to £1.17bn.
It started back on the expansion trail with the opening of its 21st store in Norwich in December 2024. It also invested £4.7m to relaunch and extend the original Motorpoint store in Derby
It announced a further share buyback programme of 3m shares which commenced post year end, following on the back of the 3.6m share buyback completed in FY25.
During the year its share of the 0-6 year old market reached 2.46% in final quarter compared to 2.27% in Q4 last year.
Mark Carpenter, chief executive officer of Motorpoint Group, said he was pleased with the performance after a few years of “considerable economic headwinds” that impacted the used car market.
“We responded in FY24 with our Brilliant Basics programme which rightsized the business and improved margin performance.
“Recent falls in interest rates are welcome, although they remain relatively high, and supply continues to slowly improve, with more bulk deals available of newer stock.
We remain cautious while conditions for the consumer remain uncertain but are well placed to continue to grow profitably and outperform the market. This will allow us to continue to invest in our strategic objectives, and accelerate activity over time as conditions allow, in addition to returning excess capital to shareholders.”
