Motorpoint’s FY23 results show challenging trading conditions from limited nearly-new vehicle availability, higher interest rates, and rapidly falling electric vehicle values in its final quarter. Adjusted PBT (ex. SBP) decreased from £21.6m in FY22 to a loss of £0.2m in FY23 (Zeus: £0.0m). With further interest rate rises expected and tough macroeconomic conditions ahead, Motorpoint is pausing its rollout of new stores and focusing on cash preservation and improving profitability. As a result, ....
