BCA Marketplace adjusted earnings up

BCA Marketplace - Europe's largest used vehicle marketplace and automotive services provider - reports revenue of £909.8m for the six months to 2 October (2015: £546.3m) as a result of acquisitions, vehicle buying and outsourced remarketing contracts.

Adjusted EBITDA rose to £64.5m (2015: £49.2m) and the group posts operating profit of £33.6m (2015: £1.3m), stated after;

* amortisation of acquired intangibles of £18.7m (2015: £17.0m)

* other acquisition and non-recurring costs of £1.1m (2015: £24.0m)

Other highlights:

- Net debt of £255.9m (2015: £156.5m)

- Diluted earnings per share of 3.0p and adjusted diluted earnings per share of 4.6p (up 27.8%)

- Interim dividend of 2.2p per share (2015: 2.0p) to be paid on 31 January 2017

Executive chairman Avril Palmer-Baunack said: "I am pleased to report another strong set of results, with significant growth in all key areas. Adjusted EBITDA growth of 31.1% translated into adjusted earnings per share up 27.8% and a 10.0% increase in the interim dividend.

"These results have been underpinned by the continued organic growth in our core divisions. The UK and International Vehicle Remarketing divisions have delivered further volume growth and an increase in adjusted EBITDA per unit, while WeBuyAnyCar again achieved double-digit volume growth. Our development of valuation, inspection, imaging and data tools, plus the logistical and physical infrastructure of BCA, continues to enhance and develop long term relationships with our current customers and also drive new business wins across the automotive landscape.

"The former SMA sites acquired in 2015 have been rebranded as BCA and are now fully integrated into the UK Vehicle Remarketing division.

"The acquisition of Paragon Automotive, the outsourced vehicle services group, represents a significant step in our strategy to offer a comprehensive suite of services to our customers that follows the life cycle of a vehicle. Our services revenue has grown to a scale where we will now manage these results under a new division, Automotive Services.

"I am delighted by the continued progress being made throughout the business as we broaden our offering across the range of vehicle services and there remain opportunities for further expansion in both the UK and continental Europe in line with our stated strategy.

"The second half to date has continued to perform well and in line with our expectations and we remain confident that we can continue to deliver our profit and growth targets."

At 9:41am: (LON:BCA) BCA Marketplace Plc share price was +4.63p at 186.38p