Motorpoint 'encouraged' by recent trading performance

Independent car retailer Motorpoint expects to report a 9% boost to revenues in its interim results, with operating margin performing at "a similar level" to the same period a year earlier.

With stock management and mix remains a key focus, Motorpoint said it was pleased that the breadth and quality of stock on hand going into the second half of the year is "strong".

The AIM-listed firm highlighted its Sheffield site, which reached its first anniversary during the half, delivering an "encouraging" performance.

Motorpoint said it was continuing to evaluate opportunities for its 13th retail site, with a pipeline of new site options under review.

Looking forward, management promised to continue to closely monitoring customer confidence in light of the ongoing economic and political uncertainty across the UK.

"However, the board is encouraged with the recent trading performance and remains confident that Motorpoint's independent and flexible model leaves it well placed to increase market share."

As of 1115 BST, Motorpoint shares had climbed 3.45% to 210p.