Motorpoint upgrades full-year pretax profit outlook, shares jump

Motorpoint Group PLC shares rose on Wednesday after the company said it expects full-year pretax profit to beat current consensus and announced plans to open a new store.

Shares in the Derby, England-based vehicle retailer climbed 3.9% to 135.00 pence on Wednesday afternoon London.

The company said trading volumes had been stronger than anticipated, driven by "accelerated investment in technology, data and artificial intelligence," and that margins had also improved.

Motorpoint said it would open a new store next spring and expects pretax profit for the current financial year ending March 31, 2027 to be between £9.8 million and £10.8 million, between 30% and 44% higher than £7.5 million in financial 2026. Further, it would beat the current market consensus of between £9.1 million and £10.0 million.

The firm will publish a first-half trading update in early October.

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