Car Group reports 10% rise in full-year profit, lifts dividend
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The news: Vehicle marketplace operator Car Group has posted a 10% rise in full-year net profit after tax to $275 million, as the company recorded revenue and earnings growth in each of its key markets.
This is up from $250 million last year but below market estimates of $295.22 million, according to Visible Alpha figures.
The numbers: Car Group, which announced the resignation of chief executive Cameron McIntyre last month, declared a final dividend of 41.5 cents per share, up 8% year on year, just shy of average forecasts of 42 cents. Revenue was up 8% year on year to $1.18 billion.
The company said it expects 9% to 13% growth in adjusted net profit after tax in fiscal 2026. It expects proforma revenue growth of 12% to 14%, including "high single-digit" percentage revenue growth in Australia, and "double-digit" percentage revenue growth in North America, Latin America and Asia. It also forecasts proforma EBITDA growth 10% to 13% in FY26.
The context: McIntyre said the Australian automotive market has "remained resilient" over the last year, with strong consumer activity on its key carsales platform. He noted "particularly strong performance" in the used car market, while the new car segment has remained stable.
The source: ASX
