Motorpoint Group PLC (LSE:MOTR, OTC:MTPTF, FRA:1X4) , the UK's leading independent vehicle retailer, saw its shares climb 8% to 141.00p on Wednesday after issuing an unexpected trading update.

The shares were up 11.00p from Tuesday's close of 130.00p, having opened at 135.00p and reached an early high of 142.00p.

The company now expects pre-tax profit for the year to 31 March 2027 to be in the range of £9.8 million to £10.8 million, ahead of the previous market consensus of £9.1 million to £10.0 million.

The new guidance implies annual profit growth of between 30% and 44%, building on profit growth of 82.9% in the previous financial year.

Motorpoint said trading volumes had been stronger than anticipated, supported by investment in technology, data and artificial intelligence, alongside favourable vehicle supply conditions and a further store secured to open in spring 2027.

Shore Capital, the company's broker, described the update as an unexpected surprise and raised its own pre-tax profit forecast for the year to £10.3 million, an increase of about 3%.

The broker said Motorpoint's valuation, at about 3.5 times enterprise value to earnings before interest, tax, depreciation and amortisation, remained low.

Shore said it expected the update to prompt renewed investor interest in the shares and saw scope for a higher valuation as earnings growth continues.