Auto Trader : H1 2023-24 results driven by favourable momentum at the Auto Trader (core) business
>Neutral rating reiterated - Yesterday, Auto Trader published its H1 2023-24 results followed by a conference call. Results were in line with our forecasts, with EBIT of £ 164,6m vs our forecast of £ 164.4m. During the conference call, management indicated that demand for used cars remains strong but that supply should continue to be affected by weak new car sales over recent years. Management notably highlighted a 21% increase in new car registrations but that the su...Auto Trader Group operates a digital automotive marketplace. Consumers can search from around 450,000 used cars and 6,000 new cars on the marketplace each month, using a standard make/model search or via discovery search if they aren't sure of the exact vehicle they want. In addition, Co. provides consumers services to help them make an informed decision about the car they are looking to buy, these include: vehicle check, finance, and insurance. Co. also provides free vehicle valuations providing both a private sale price as well as a part-exchange price. Furthermore, Co. provides retailers display advertising packages so they can promote their business as well as individual vehicles.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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