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(Sharecast News) - Motorpoint reported a jump in full-year profit and revenue on Wednesday as it continues to outperform the wider used car market.
In the year to the end of March, pre-tax profit at the car dealer rose 82.9% to £7.5m on revenue of £1.3bn, up 8.1% on the previous year.
Earnings before interest, tax, depreciation and amortisation grew 15.1% to £27.5m and basic earnings per share were up 78.4% to 6.6p.
Motorpoint saw retail volume growth of 7.8% to 64,600, outperforming the wider used car market, which was up 1.4% in the year, according to data from the Society of Motor Manufacturers and Traders.
As far as current trading is concerned, Motorpoint said that despite the Middle East conflict impacting consumer confidence, it has continued its strong momentum into FY27. It pointed to retail volume growth of 15% across April and May - albeit versus weaker comparatives -and said it had maintained strong profitability.
Chief executive Mark Carpenter said: "The group had an excellent year in FY26, and I am delighted to report record sales volumes and an 83% increase in profit before taxation. FY26 has been a step change year for Motorpoint, where the use of data became fundamental within the business and we embraced the tangible benefits of AI.
"This progress deepens our competitive moat and provides the necessary foundation for the group to expand further and significantly grow profitability in the years ahead. Our strong progress has continued in the first few months of FY27.
"We again significantly outperformed the wider used car market, demonstrating that our superior proposition, which is to make car buying easy, continues to resonate strongly with customers. Our strategic investment in technology and the use of data and AI, combined with the quality of service provided by our exceptional team, has enabled us to sell more vehicles at good metal margins and provide our customers with a seamless car buying experience."
At 1250 BST, the shares were 2% higher at 127.50p.
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