By Anthony O. Goriainoff
Auto Trader Group PLC said Thursday that pretax profit for the first half of fiscal 2022 rose as revenue increased, and that the stock lever--which shows year-over-year movement--will likely represent a small headwind for the full year.
The London-listed car-listing publisher said the board is confident about the second half of the year. It expects modest on-year growth in retailer forecourt numbers and low double-digit average revenue per retailer, or ARPR, compared with fiscal 2020's levels.
Pretax profit for the half year ended Sept. 30 was 150 million pounds ($201.1 million), compared with GBP66.2 million a year earlier, the company said.
Revenue came in at GBP215.4 million, compared with GBP118.2 million and an estimate of GBP189 million, taken from FactSet and based on one analyst's estimate.
Monthly ARPR--a key metric for the company--rose to GBP2,199 from GBP1,206 a year earlier, and was up 13% from the first half of fiscal 2020.
"The number of people using Auto Trader to buy their next car is at record levels, more retailers are choosing to partner with us, and our competitive position has strengthened," Chief Executive Nathan Coe said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com