11 April 2018
BCA Marketplace plc
("BCA" or the "Business")
Trading Update - Ahead of Market Expectations
BCA, the UK and Europe's market leading digital and physical used vehicle marketplace and automotive service provider is pleased to announce the following trading statement.
The positive outlook reported in the Interim Results of 28 November 2017 has continued during the second half of the financial year culminating in a strong trading performance for the full year.
As a result the Business has traded ahead of market expectations with strong profit growth and with a net debt position lower than market forecasts.
The Remarketing businesses have been successful in winning a number of new contracts along with continuing contract renewals. The UK's leading buyer of vehicles, webuyanycar.com, continues to succeed and grow as the number one company of choice in its sector for consumers.
Additionally, BCA has made good progress in growing and integrating its services business.
BCA's business solutions systems, data and hero digital products also continue to enjoy strong customer uptake - allowing the Business to become a valued and embedded partner with many of its customers - along with driving internal performance.
With the above stated successes, the Board believes the Business is on a strong footing as it enters its next financial year and for the future.
BCA will announce its Preliminary Results for the full year ended 1 April 2018 on Thursday 28 June 2018.
BCA Marketplace plc (Investor Relations) [email protected]
Square1 Consulting (Financial PR) +44 (0)20 7929 5599
Buchanan Communications (Financial PR) +44 (0)20 7466 5000
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS