Motorpoint’s H1 results (announced on 24 November) showed market share gains in the 0-4 year old used car market and an outperformance of total UK used car transactions, albeit with materially lower profits vs. H1 2022. Zeus forecasts are unchanged today, but nearly-new car supply constraints and costs pressures pose downside risks to our numbers. Shares now trade on a one-year forward P/E of 26.2x, falling to 14.9x by FY25 on Zeus forecasts, which is still a material premium to the average of i ....
02 Dec 2022
Motorpoint (MOTR LN) - Gaining share but shrinking profit
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Motorpoint (MOTR LN) - Gaining share but shrinking profit
Motorpoint Group Plc (MOTR:LON) | 137 0 0.0% | Mkt Cap: 123.0m
- Published:
02 Dec 2022 -
Author:
Carl Smith, CFA -
Pages:
7
Motorpoint’s H1 results (announced on 24 November) showed market share gains in the 0-4 year old used car market and an outperformance of total UK used car transactions, albeit with materially lower profits vs. H1 2022. Zeus forecasts are unchanged today, but nearly-new car supply constraints and costs pressures pose downside risks to our numbers. Shares now trade on a one-year forward P/E of 26.2x, falling to 14.9x by FY25 on Zeus forecasts, which is still a material premium to the average of i ....