Mark Morris, Motorpoint Group’s chairman, told investors at the company’s recent AGM he is “cautiously confident” about the company’s full year performance.

The top ID 50 business saw improved trading in its second half of its financial year, which ended March 31, 2017 and this continued into Q1 of its current financial year, with sales growth maintained and trading in line with expectations.

Morris said: “The recent site openings in Castleford, Oldbury and Sheffield are all continuing to develop and are building pleasing momentum.

“Following the encouraging first quarter, the board remains cautiously confident in delivering a full year performance in line with our expectations."

Motorpoint specialises in nearly-new vehicles, with a stock profile featuring cars up to two years old and less than 15,000 miles. It has 12 retail sites across the UK, including; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford, Oldbury and Sheffield. It has opened seven centres in the last five years; together with a national contact-centre dealing with online enquiries.