Carsales.com firing on all cylinders as profit accelerates to $161m

 Australia’s dominant online vehicle marketplace Carsales.com (ASX: CAR) is firing on all cylinders with buoyant conditions in its domestic and international operations leading to a 23 per cent increase in FY22 profit to $160.8 million.

The result has been bolstered by a bigger contribution from US vehicle marketplace Trader Interactive after Carsales.com earlier this year bought out the remaining 51 per cent it didn’t already own for about $1.17 billion. Trader Interactive is expected to deliver low double-digit earnings per share growth in the first full year of ownership, with higher upside in the following years.

Carsales.com posted a 19 per cent increase in revenue to $509.1 million in FY22, while underlying EBITA rose 12 per cent to $269.9 million.

Read More: https://www.businessnewsaustralia.com/articles/carsales-com-firing-on-all-cylinders-as-profit-accelerates-23-per-cent-to--161m.html



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