Australia's Carsales.Com hits record high on robust FY results, outlook

CAR

14/08/2023 01:49

** Shares of Carsales.Com Ltd  CAR.AX  rise as much as 5.7%
to hit a record high of A$26
    ** Online auto classifieds firm posts FY adjusted NPAT of
A$278 mln ($180.45 mln), up 43% on prior corresponding period
    ** Posts revenue of A$781 mln, up 53% on pcp
    ** Sees to deliver good growth in revenue and EBITDA in FY24
on proforma basis 
    ** Expects to see expansion in co's group EBITDA margin on
proforma basis in FY24 
    ** Stock posts its biggest intraday gain since Nov. 11
    ** Stock up 19.4%% this year as of last close



($1 = 1.5406 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))