Update on Current Trading

RNS Number : 2629P

Auto Trader Group plc

17 February 2016

 

17 February 2016

AUTO TRADER GROUP PLC

UPDATE ON CURRENT TRADING

Auto Trader Group plc (LSE: AUTO), ('the Group'), the UK's largest digital automotive marketplace, will be announcing its results for the year to 27 March 2016 on 9 June 2016.  The Board is making this ad hoc statement to update the market on trading since the Group's interim results statement on 13 November 2015, which covered the six months to 27 September 2015.

The Group has performed well during the last four months.  The increase in Average Revenue per Retailer Forecourt (ARPR) has been stronger than anticipated, as has consumer services revenue. The number of retailer forecourts advertising on our marketplace remains broadly flat.  Costs have been well managed and this combination has led to further margin increases.  Furthermore, profits continue to be converted into cash at a high level, thereby facilitating the planned reduction in net debt.

Based on the Group's performance for the first ten months of the year, the Board currently anticipates full year Underlying operating profit¹ will be in the range of £169 million to £171 million, marginally ahead of current market expectations.  The Board continues to be positive about the trading environment in which the Group operates.

The Board notes that lock up agreements entered into at the time of the Initial Public Offering (IPO) in March 2015 will come to an end on 18 March 2016.

Notes:

1.   Operating profit before share-based payments, management incentive plans, exceptional items and impairment charges

Enquiries:

Powerscourt Rob Greening / Lisa Kavanagh [e-mail]	[phone]
Auto Trader Group plc Sean Glithero, Finance Director	[phone]

About Auto Trader

Auto Trader Group plc is the UK and Ireland's largest digital automotive marketplace. Auto Trader sits at the heart of the UK's vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.

The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness, and attracts on average 43 million monthly cross platform visits (five times larger than our nearest competitor), with circa 70% of visits coming through mobile devices. Over 80% of all time spent on automotive classified sites is spent on Auto Trader.

The marketplace also has the largest pool of vehicle sellers (listing more than 420,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk and around 65% of UK used car transactions involve cars listed on the site.

Auto Trader's market-leading position enables it to generate and collect large amounts of data from the UK's largest marketplace and leverage it to create a suite of services, known as the four 'Pillars',  that allow retailers to:

BUY the right vehicles, at the right price

MARKET brands and businesses effectively in the digital world

SELL more vehicles through advertising on the UK's largest digital automotive marketplace

MANAGE stock turn and vehicle margin

For more information please visit http://about-us.autotrader.co.uk/ 

 

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