Organic growth drives Carsales.com profit higher
CARSALES.COM has flagged full-year earnings of around $138 million and said recent international investments are performing well.
CARSALES.COM has flagged full-year earnings of around $138 million and said recent international investments are performing well, after posting a rise in profit for the first half of the year.
In the six months to December 31, Carsales booked a $112.28 million lift in revenue from continuing operations, representing a 10 per cent boost on the previous corresponding period.
Net profit attributable to members rose 17 per cent for the half-year, to $43.87 million.
The result was driven largely by organic growth in online advertising, which grew 10 per cent to $98.3 million, from the first half of 2013. Data and Research booked a 12 per cent lift in revenue to $14 million, on the back of new product development and organic growth.
Carsales will pay out a fully franked interim dividend of 14.7c, on April 2, to shareholders on the register at March 12.
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