Australia's Carsales.com jumps on upbeat results, outlook

CAR

13/02/2023 01:20

** Shares of Australia's Carsales.Com Ltd  CAR.AX  rise as
much as 2.5% to A$23.110 — set to mark their best day since Feb.
3, if gains hold
    ** Online auto classifieds firm posts HY pro-forma revenue
Of A$388 mln ($268.03 mln), up 15% on prior corresponding period
    ** Says HY net profit attributable rose 458.1% to A$416.5
mln; co declared a fully franked interim dividend of 28.5
Australian cents per share
    ** Co expects to deliver good growth in adjusted revenue and
adjusted EBITDA in FY23 on a proforma basis
    ** Adds co expects to see expansion in Carsales group's
adjusted EBITDA margin on both a pro-forma and actual basis in
FY23    
    ** Stock has risen 8.6% this year, as of last close
($1 = 1.4476 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))