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Used car retailer Motorpoint reports return to profit despite revenue drop, shares rise 12%.
Used car retailer Motorpoint returned to profit in the first half of its financial year, reporting a £2.0m pre-tax profit compared to a £3.7m loss last year.
Despite a 7% revenue drop to £563.1m, the company saw a 17.4% increase in vehicle sales and a 7% rise in gross profit to £44.7m.
CEO Mark Carpenter is cautiously optimistic about future economic conditions and the company's growth.
Motorpoint's shares rose by 12.37% following the announcement.
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Distribuidor de automóviles usados Motorpoint reporta retorno a beneficios a pesar de la caída de ingresos, las acciones aumentan 12%.