StockMarketWire.com - Car auctioneer BCA Marketplace reported Thursday first-half pre-tax profit jumped sharply on increased in vehicle sales at higher average prices.

For the six months to 30 September, pre-tax profit rose 30.9% to £45.7.9m, from £34.9m a year earlier, and revenue gained 22% to £1.43bn.

Revenue was supported by the sale of more vehicles acquired through the vehicle buying division, and an increase in the number of vehicles sold under outsourced remarketing contracts in the UK Vehicle Remarketing division.

The UK Vehicle Remarketing division – which makes up the about 40% of total revenue – saw revenue increase 27% to £581.6m. Volumes

The automotive services division experienced a 'very challenging' environment following the introduction of regulatory emission measures, resulting in a reduction in earnings (EBITDA) of £2.5m, the company said.

The Interim dividend was increased by 15.4% to 3.0p a share. 'We anticipate that the impact of Worldwide Harmonised Light Vehicle Test Procedure will continue to restrict the supply of new vehicles in the second half, although due to our multi-channel and multinational business we remain confident that we can continue to deliver our profit and growth targets,' said Avril Palmer-Baunack, Executive Chairman.



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