17th Feb 2016 07:18
LONDON (Alliance News) - Automotive marketplace operator Auto Trader Group PLC on Wednesday said it has traded well in the past four months and its underlying operating profit it set to come in slightly ahead of market expectations.
The FTSE 250-listed company, which floated in London in March last year, said its average revenue per retailer forecourt has been stronger than anticipated in the four months since the end of the first half of its financial year to September 27. Consumer services revenue has also come in ahead, it said.
The number of retailer forecourts advertising on its service has been broadly flat, but costs have been well-managed, resulting in better margins, the company said.
Based on its performance for the first ten months of its financial year, Auto Trader expects its underlying operating profit for the full year will be GBP169.0 million to GBP171.0 million, marginally ahead of market expectations. It did not provide an underlying operating profit number for the year prior, but the figure strips out one-offs, share-based payments and management incentives.
By Sam Unsted; [email protected]; @SamUAtAlliance
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