Auto Trader revs up as half-year profit hits £105.4m

Digital automotive marketplace Auto Trader Group plc has reported half-year profit and revenue growth after launching new advertising packages for retailers.

The Manchester-headquartered company achieved a pre-tax profit of £105.4m in the six months to September 30 this year, up 10% in comparison to H1 2017.

Revenues rose by 7% to £165m and operating profit by 9% to £109.6m.

The growth follows the relaunch in April of the firm’s retailer advertising packages. Auto Trader said early takeup has been ‘encouraging’, with 8% of retailer stock on its website now on either its Advanced and Premium package.

Trevor Mather, CEO of Auto Trader Group plc, said: “We have delivered good growth in the first half, as we continue to create a more efficient marketplace for car buyers, manufacturers and retailers.

“Our business has continued to perform strongly, underpinned by the successful launch of our retailer advertising packages in April.”

He added: “The new packages provide additional products for all customers and offer new opportunities for retailers looking to compete more effectively on the marketplace.”

Looking ahead, Mr Mather said the business remains “focused on improving the car buying and selling experience for consumers”.

The Auto Trader board, he said, is “confident of delivering its growth expectations for the remainder of the year”.

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