Motorpoint performance continues in first quarter

Independent vehicle retailer Motorpoint saw the improved performance in the second half of its previous financial year continue into the first quarter, its shareholders heard on Wednesday, with the rate of sales growth maintained and the group’s gross margins remaining in line with expectations.

The London-listed firm was holding its annual general meeting on Wednesday morning.

“The recent site openings in Castleford, Oldbury and Sheffield are all continuing to develop and are building pleasing momentum,” said chairman Mark Morris.

“Following the encouraging first quarter, the board remains cautiously confident in delivering a full year performance in line with our expectations.”