Motorpoint Group plc AGM Trading Update (0665M)

TIDMMOTR

RNS Number : 0665M

Motorpoint Group plc

26 July 2017

26 July 2017

Motorpoint Group plc

("Motorpoint" or the "Group")

AGM Trading Update

Mark Morris, Chairman of Motorpoint Group plc, the UK's largest independent vehicle retailer, will make the following statement at the Group's Annual General Meeting to be held at 10.00am today.

"The improved trading performance in the second half of our financial year, which ended on 31 March 2017, has continued in Q1 of the current financial year, with the rate of sales growth maintained and the Group's gross margins remaining in line with our expectations. The recent site openings in Castleford, Oldbury and Sheffield are all continuing to develop and are building pleasing momentum. Following the encouraging first quarter, the Board remains cautiously confident in delivering a full year performance in line with our expectations."

Enquiries:

 
 Motorpoint Group plc                via FTI Consulting 
  Mark Carpenter, Chief Executive 
  Officer 
  James Gilmour, Chief Financial 
  Officer 
 FTI Consulting (Financial 
  PR) 
  Jonathon Brill 
  Alex Beagley 
  James Styles 
  George Robinson                    020 3727 1000 
 

Notes to editors

Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles. Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 12 retail sites across the United Kingdom; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford, Oldbury and Sheffield, of which seven have opened in the last five years; together with a national contact-centre dealing with online enquiries.

More information is available at www.motorpointplc.com and www.motorpoint.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 26, 2017 02:00 ET (06:00 GMT)