Online vehicle trader motoring ahead of expectations

DIGITAL automotive marketplace Auto Trader is anticipating its full year profits will be ahead of expectations – between £169m and £171m.

The listed company, which has its largest office with 600 people on First Street in Manchester published an “ad hoc’ statement ahead its results for the year to March 27 which will be announced on June 9.

Auto Trader said it has performed well during the last four months with an increase in average revenue per retailer forecourt stronger than anticipated, as has consumer services revenue.

The number of retailer forecourts advertising on its marketplace remains broadly flat.  Costs have been well managed and this combination has led to further margin increases.

“Profits continue to be converted into cash at a high level, thereby facilitating the planned reduction in net debt,” a statement said.

“Basedon the group’s performance for the first 10 months of the year, the board currently anticipates full year ynderlying operating profit will be in the range of £169m to £171m, marginally ahead of current market expectations.

The board continues to be positive about the trading environment in which the group operates.”

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