Latest earnings from Cazoo have failed to restore investors’ confidence in the British online car retailer.
Pre-tax losses at the New York-listed group, which sponsored this year’s world snooker championship, won by Luca Brecel, above, narrowed from £207 million to £151 million in the first half of the year. Revenue fell by 28 per cent to £419 million after its withdrawal from mainland Europe and move to focus on the British market.
The company’s stock has fallen sharply since it went public in 2021 via a $7 billion “blank-cheque” merger. At present it has a market valuation of about $61 million. Trading in Cazoo shares remains volatile. The stock, having surged by 26 per cent on Monday, fell by 23 cents, or 12.7 per cent,
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