The Motorpoint Group Plc Board has declared an interim dividend of 1p per share with an associated cash cost of £0.8m (H1 FY25: £Nil).
Other financial highlights include:
Total revenue increased 15.0% on the previous period, outperforming the wider used car market and benefitting from an increase in average vehicle selling price
Data-led approach to buying and selling vehicles has resulted in improved and stable metal margins
Finance commission income remains subdued due to relatively high interest rates
Operating expenditure increase reflects opening of one new store, minimum wage and national insurance increases, along with volume related headcount increase
Notable savings in other variable costs, following management action, including energy and card payment fees
Increased finance expense reflects higher stock levels, despite a moderate decrease in interest rates
Profit before tax increased 80.0% to £3.6m, and EBITDA by 22.5% to £13.6m
Cash movement influenced by £5.0m share buyback and increased vehicle purchasing to satisfy demand
Return on Capital Employed improved to 58.8%, from 18.7% in the corresponding period last year, reflecting their increased profitability and demonstrating the effectiveness of our capital light model
