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.

November 27, 2024
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