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Auto Trader profits up by 19 per cent after floating on Stock Exchange

Time 9:50 am, June 9, 2016

CLASSIFIED cars website Auto Trader saw profits accelerate last year as it continued to dominate the sector.

The firm said full-year operating profit revved up by 19 per cent to £171.3m as increased advertising revenue boosted sales.

Auto Trader, which floated on the London Stock Exchange last year, said turnover was up from £255.9m to £281.6m.


Chief executive Trevor Mather said: ‘We are delighted with the progress that the group has made in its first full year as a public company.

‘The new financial year has started well, and the board is confident of delivering continuous improvement in both our consumer and retailer solutions, as well as our overall performance in the coming year.’

Debt, which under previous owner Apax dragged on the firm, was down £135.3m to £392.6m.

 

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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