Motorpoint Group PLC (LON:MOTR) said it is not recommending a final dividend to support its cash position despite sales have been improving since reopening last month.
The car seller said trading volumes have been ahead of last year with margins “at least” in line with seasonal norms.
The retailer, which focuses on second-hand cars, did not give an outlook for the current year as there is still uncertainty related to the coronavirus crisis.
In the year to March 31, revenue shed 4% to £1bn while profit before tax slipped 15% to £18mln due to the hit of lockdown closures.
"There will be an element of pent-up demand in current trade and we think trading could become more difficult as unemployment starts to rise in the autumn," analysts at Liberum noted.
Shares added 6% to 239.5p early on Tuesday.
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