Just a few days after DMGT said online car classifieds are proving “challenging“, AutoTrader‘s operator has reported strong gains in the same area.
Half-year profit is up by a tenth to £70.6 ($109.81) million on four percent higher revenue of £135.4 ($210.59) million.
The group has long been known as a case study in the successful transition of advertising-centric publishing to digital media. Its digital operations scored 15 percent more revenue of £96.4 ($149.94) million and account for 87 percent of profits.
CEO John King: “We have continued to grow our digital business strongly despite the current economic climate. With the Group being platform agnostic, we are benefitting from the rapid growth of a wide range of wireless devices.”
The group says 30 percent of its dealers use its premium mobile offering.
“With the majority of the group’s business now online, TMG’s strategy is to widen its range of digital products and develop a number of brand extensions … Opportunities are expanding with the growth of new digital media. Facebook and Twitter present new outlets for internet-based social marketing.”
TMG is jointly owned by Guardian Media Group and Apax Partners, the former of which plans to sell it at some point in the future.
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