Carsales H1 profit gains 20%

Company News

Carsales.com Ltd (ASX:CRZ) says its net profit gained 20 per cent to $33.06 million in the first half of its 2012 financial year.

The online classifieds company says first half operating revenue rose 22 per cent while its EBITDA margin rose 55 per cent from the same time a year before.

The company forecasts its second half net profit will be ‘well up’ from the year before and similar to slightly above its first half result, assuming market conditions remain constant.

A fully franked interim dividend of 11.3 cents per share has been declared.