BCA Marketplace PLC (LON:BCA) has reported a jump in pre-tax profits in full-year results as revenues in its UK Vehicle Remarketing division swelled by nearly a quarter.
The FTSE 250 car marketplace and owner of webuyanycar.com reported a pre-tax profit for the year of £120.9mln, 24.1% higher than the previous year, while revenues climbed 19.8% to £2.43bn.
READ: BCA Marketplace shares jump as webuyanycar.com owner rejects Apax Partner takeover proposal
The results were bolstered by a strong performance in the group’s UK Vehicle Remarketing division, which saw revenues rise to £941.4mln from £753.8mln last year, while its operating profit increased to £67.1mln from £57.8mln previously.
The group also hiked its final dividend for the year to 5.95p from 4.55p last year, taking its full-year dividend to 8.55p from 6.75p.
In its outlook, the company said the new financial year had started well with performance in the year to date in line with expectations.
Avril Palmer-Baunack, Executive Chairman of BCA, said: "The Group has delivered record commercial and financial results for the third successive year. We saw increased volumes across all divisions, with UK Vehicle Remarketing achieving the landmark of selling over one million vehicles in the year.”
The results may serve to lessen any continued talk of a takeover following an unsuccessful bid from private equity firm Apax Partners LLP earlier in June.
The firm offered BCA a deal at 200p per share, which the group rejected causing its shares to jump nearly 10% on the day.
In early morning trading Thursday, BCA shares were down 3.4% at 208.5p.