Shares in Car Group have zoomed 10 per cent higher in early trade after the carsales.com.au operator reported pro-forma revenue for the full year of $1.25 billion.
That was up 10 per cent on the previous year’s $1.14b and delivered net profit of $314 million, up 14 per cent.
Revenue in Australia soared 7 per cent as carsales.com.au maintained its market leadership “while AI-led improvements in search, personalisation and workflow tools enhanced the experience for consumers and dealers”.
Its North America, Latin America and Asia business units all recorded double-digit growth.
“We continued to move beyond traditional classifieds, building connected automotive ecosystems that support customers across more of the vehicle ownership journey,” said Car Group MD William Elliott.
“These ecosystems strengthen customer relationships, create new opportunities to deliver value and capture revenue and embed Car Group more deeply in the markets we serve.”
Mr Elliott also noted the shift towards electric vehicles as crippling petrol prices force drivers to seek alternatives.
“The shift towards electric vehicles and the emergence of new EV entrants into our markets are already contributing to our performance and represent an ongoing opportunity,” he said.
Car Group declared an improved final dividend of 43.5, up 2c from last year. That took the full-year payout to 86c, up from 80c in FY25.
The company;s shares were 9.8 per cent higher $29.65.