30th Nov 2015 08:45
LONDON (Alliance News) - BCA Marketplace PLC on Monday said it will pay a maiden interim dividend after a strong first nine months of its financial year and good trading for the BCA Group business since it was acquired in April.
The company, which operates the British Car Auctions brand and which listed in London in April, said it will pay a maiden interim dividend of 2.0 pence per share.
Total revenue for the BCA Marketplace business was GBP546.3 million, with no comparative figure as the company, created as cash shell Haversham Holdings before the takeover of British Car Auctions, was only incorporate in September 2014.
Revenue for the BCA Group business rose to GBP525.8 million, up 21% year-on-year, for the six months to October 4, following the acquisition of the business on April 2, with a good performance in its remarketing division, driven by a strong UK market, while international revenue was more subdued, in part due to adverse exchange rate movements.
"Second half trading has started well, a new OEM tender has been won, and with the continued focus on organic and strategic growth, alongside improvements in operational efficiency, the board remains confident that this will continue for the full year and into the next financial year," said BCA Marketplace Executive Chairman Avril Palmer-Baunack.
Shares in BCA were up 1.6% to 171.50p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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