First Impressions Profit Report: Carsales.com (CAR) - FY15 profit up 8% and dividend up 10% including a special dividend of 1.4 cents
Carsales domestic revenue highlights: Dealer revenue up 7%, Mediamotive up 3%, Data, Research and Services up 14%, Private revenue grew by 8%, Finance and Related Services recorded revenue of $59.4m, principally due to the acquisition of Stratton Finance on the 15th July 2014. Carsales International revenue highlights: SK encarsales.com strong underlying revenue growth of 31% on pcp, Webmotors S.A. revenue growth of 21% pcp, iCar Asia Ltd - carsales' share of net loss after tax is estimated to be ($3,288,000). Net operating cash flow steady $101.8m ($101.2m in FY14) Outlook:. “Domestic trading conditions in the first 6 weeks of FY16 have remained solid. We expect to see further growth from domestic investments and EBITDA margins to be maintained around current levels. Subject to international market conditions being maintained we would expect to see solid improvement in the earnings of our international investments. A more detailed trading update will be provided at the October AGM”. Read the summary here: (VIEW LINK)
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Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.