AUTO TRADER has announced that revenue in the six months ending September 25 was up 11 per cent to £153.9m from £138.2m in the first half of the year.
The business also revealed that underlying operating profit was up 23 per cent to £102.3m, while operating profit was up 21 per cent to £100.6m.
Auto Trader also reported operational highlights that included cross-platform visits increased by more than a third (36 per cent) to 58.5m, with its consumer audience four times larger than that of the nearest competitor.
Advert views per month increased by four per cent to 250m, however the number of retailer forecourts advertising on the Auto Trader marketplace down one per cent to 13,374. Average revenue per retailer forecourt was also up to £179 a month (13 per cent) to £1,526 when compared to the same period last year.
Chief executive of Auto Trader Group plc Trevor Mather said: ‘Auto Trader, the UK’s leading digital automotive marketplace has delivered a strong first half performance report. We have felt no discernible change in the competitive environment and no noticeable impact from Brexit to date.
‘We remain focused on creating a simpler and more efficient marketplace, as well as enhancing the experience we deliver to consumers. Trust and transparency are key purchase drivers in today’s consumer buying journey. Auto Trader’s recent Market Report found that only seven per cent of consumers trust car retailers.
‘We have therefore continued to improve our consumer experience by launching products and services such as dealer reviews and vehicle check that promote greater trustworthiness in retailers, as well as providing real time valuations that help to improve transparency in the car buying process.’
He continued: ‘Despite the current wider economic uncertainty, the Board is confident of delivering its growth expectations for the second half of the year.’
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