Carsales posts net profit of $109.3m on the back of international growth
Car classified website Carsales has posted a net profit after tax of $109.3m – up 9% on last year.
The company noted that its revenues and earnings before interest, tax, depreciation and amortisation (EBITDA) were both up 10% on last year to $344m and $170.3m, respectively.
Greg Roebuck, CEO of Carsales, touted the strong result, arguing the company had benefited from its global expansion.
“We are building a dynamic global business, the economies of scale that come with this, along with our world-leading technology, are helping us evolve our business. Dealers and consumers have the same high expectations in all our markets,” said Roebuck.
“To once again deliver record full year results to our shareholders whilst consolidates our domestic market leading position is testament of the car sales team and its ability to drive our domestic and international growth strategy forward.”
The company declared a 19.5 cent dividend.
