Motorpoint announced a return to profitable trading with full year retail volumes up 14% compared to last year.
It delivered a strong performance in the 0-6 year category for the 12 months to 31 December 2024, with retail sales volumes up 14.8% year on year, against 2.8% market growth.
Its 21st store opened in Norwich in early December and is trading well and it continues to evaluate further store opening opportunities
it expects pre-tax profit between £4m and £4.3m million for the financial year ended March 31 compared to a loss of £10.4m in the prior year.
Motorpoint CEO Mark Carpenter 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 £5m buyback.