Auto Trader motors to profit in first listed year

Online car sales firm Auto Trader Group motored to a £155m pre-tax profit in its first full year as a listed company, up from £10.9m last year.

Revenues rose 10% to £281.6m, while operating profits grew 27% to £169.6 million. Basic earnings per share from continuing operations of were up to 12.67p from 0.85p.

The company proposed final dividend of 1p per share, totalling 1.5p per share for the year and said a rolling programme of share buy-backs would start “imminently”, with the majority of surplus cash after dividends being returned to shareholders.

“The new financial year has started well. Based upon having the largest consumer audience, healthy relationships with our retailers, a robust car buying market and a modest cost base decrease, the Board is confident of further growth in the coming year,” the company said.