Car auctioneer BCA Marketplace saw profits rise 18% despite the backdrop of a 'challenging' new car market, and subdued conditions in the used car market. For the six months to 30 September, pre-tax profit rose 17.9% to £89.5m, and revenue gained 24.5% to £3.03bn. Adjusted earnings (EBITDA) increased by 7.8% to £171.9m. The UK Vehicle Remarketing division – which makes up about 40% of total revenue – saw revenue increase 32% to £1.24bn. The company hailed the performance of webuyanycar.com, which delivered 'accelerated volumes in the second half of the year with growth of 23.2% (full year growth of 18.7%).' The full-year dividend was increased by 12.9% to 9.65p a share, which included a proposed 6.65p final dividend. 'BCA has delivered a good resilient performance in the year against the backdrop of a challenging new car market, subdued conditions in the more stable used car market and economic uncertainty created by Brexit,' said Avril Palmer-Baunack, Executive Chairman. 'In International Remarketing, growth of 23.2% in cross-border sales was facilitated by our 1Europe programme designed to open up all our markets to buyers in a consistent, easy to transact manner.' 'The new financial year has started well despite the continuing UK-specific, macroeconomic and political challenges. The automotive sector does not stand still and neither will BCA in providing integrated services to support it.'
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