Auto Trader announces growing revenue and profits
Manchester based online car retailer, Auto Trader, has announced its first end of year results at a publicly listed company, revealing that its revenue grew by 10%. (£281.6m).
The firm also recording a 27% rise in operating profit, from £133.1m to £169.6m.
It signals further growth for the firm, which only floated on the Stock Exchange last year.
According to the report, its consumer audience is 6 times larger than that of its nearest competitor, while its advert views have increased by 7.5% to 243m.
"We are delighted with the progress that the Group has made in its first full year as a public company. We have continued to enhance the value that we deliver to our vehicle retailer and manufacturer customers, not only by providing them with the largest and most engaged marketplace in which to market their vehicles, but also by giving them the tools to help them run their own businesses more effectively,” explained Trevor Mather, chief executive of Auto Trader Group plc.
"Auto Trader remains the number one choice for consumers when they are looking to buy their next car. We are focused on making the whole car buying process easier and less stressful for consumers. We do this by using our own data and market insight to enhance our existing products and create innovative new solutions that help our customers win in the marketplace.
"The new financial year has started well, and the Board is confident of delivering continuous improvement in both our consumer and retailer solutions, as well as our overall performance in the coming year.”
Over the year, it said that it had increased the number of cross platform visits and the levels of consumer engagement, leading to a 7.5% growth in advert views. This, it explained, was the equivalent of “an extra six vehicles being viewed every second.”
Revenue from display advertising was up 23%, due to improved advertising formats and home page takeovers.
Its marketing spend over the year increased by 2%, to £15.7m, this included investment in a brand-led television campaign, video on demand and online.
The year has also seen it restructure, having completed its move from print to digital. It has brought together its audience acquisition and brand marketing teams and merged its retailer and consumer product operations.