Auto Trader has seen its revenue rise by 8% (£355.1m) and profits increase by 10% to £243.7m.
In its full year results, it said that it expected another strong year of growth in 2019, although not the “exceptional levels” seen so far.
“We have achieved another strong year of revenue and profit growth driven by a line-up of products that are proven to improve the business performance of our retailer and manufacturer customers,” said Trevor Mather, Chief Executive Officer of Auto Trader Group plc.
“We remain the most trusted marketplace for car buyers and offer the largest choice of both new and used cars following the recent addition of brand-new cars on Auto Trader, which are available immediately and at competitive prices.
“The new financial year has started well, and despite the continued wider market uncertainty, the Board is confident of meeting its growth expectations for the year.”
The Manchester-based online car marketplace has invested in its core platform and infrastructure, including a new public cloud-based solution to improve its security, resilience and speed when it comes to releasing software.
Its manufacturer and agency revenue grew due to its InSearch product, which allows manufacturers to advertise cars within its main search. However, it said the 18% rise in revenue was skewed towards the first half of the year, in the second half there was a “transient impact as a result of the well documented uncertainties resulting from Brexit and cost pressures facing both car manufacturers and their advertising agencies.”
Across the year, marketing spend increased by 8% to 17.6m.
