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Auto Trader group tops expectations as profits rise 15%

By BFN News | 07:22 AM | Thursday 06 June, 2019

Auto Trader delivered annual results that topped market expectations as profits rose 15% as demand for its offerings drove up sales. For the 52 weeks ended 31 March, pre-tax profit increased by 15% to £242.2m and revenue rose by 8% to £355.1m. Ahead of the results, Citigroup had forecast the group to report pre-tax profit of £238.9m for the year. Average Revenue Per Retailer forecourt (ARPR) rose 9% to £1,844 a month, with growth from product and price offsetting the expected reduction from stock. The company said the year of 'strong' growth was driven by a line-up of products that were proven to improve the business performance of its retailer and manufacturer customers. Looking ahead, the company said it expected another strong year of ARPR growth, underpinned by its product lever, but added that growth in product was unlikely to reach the exceptional levels seen in 2019. The price lever would be 'broadly consistent and the stock lever is likely to be slightly down in line with market trends,' it added. 'The new financial year has started well, and despite the continued wider market uncertainty, the Board is confident of meeting its growth expectations for the year,' said Trevor Mather, Chief Executive Officer of Auto Trader Group. Story provided by

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