Auto Trader shares have rocketed from 557p to 616p this week, including a 38p burst yesterday on the back of better-than-expected results and outlook. The management had the culture and confidence to ride out harsh lockdowns, an excellent test of its ability to capitalise in better times.
Advertising revenue from car showrooms, the biggest earner, fell 31 per cent after conceding free advertising in April, May, December and February, and a discounted rate in June last year.
Nathan Coe, its chief executive, said: “We decided early on to proactively support our people, car buyers and our customers, many of whom run small, family-owned businesses. These actions have positioned us for a strong start to the new financial year.”
It says much about the
