BCA Marketplace to pay maiden interim dividend

Used vehicle marketplace BCA Marketplace will pay a maiden interim dividend, on the back of a strong performance in the first nine months of its financial year.

In a statement released on Monday, the group said total revenue for the BCA Marketplace business was £546.3m, with no comparative figure as the company was only incorporated in the group in September last year.

In the six months to 4 October, revenue for the BCA Group arm increased 21% year-on-year to £525.8m, boosted by a strong performance in the remarketing segment, driven by strong domestic demand, which offset a subdued international growth.

“The 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 group executive chairman Avril Palmer-Baunack.

The group said it will pay a maiden interim dividend of 2p per share.

BCA shares were up 2.96% to 173.75p at 1020 GMT on Monday.