BCA marketplace reports higher profits despite tougher emissions standards

WeBuyAnyCar’s parent firm BCA Marketplace reported a 31 per cent year-on-year rise in first half profit today, despite fears that tougher emissions standard would restrict the future supply of new vehicles.

The company recorded pre-tax profit of £45.7m for the six months to the end of September, rising from £34.9m in the same period last year.

Rising prices of used vehicles and higher sales at WeBuyAnyCar bolstered the firm’s revenue, which jumped 22 per cent to £1.43bn from £1.17bn.

However, BCA Marketplace added that new vehicle emissions tests will restrict supply of new vehicles in the second half, but the business remains confident on delivering its profit and growth targets.

The car auctions company said it does not expect Brexit to significantly impact the firm’s ability to conduct business in the short to medium term, aside from the impact on consumer confidence and the movement of vehicles, parts and automotive supplies into and out of the markets in which the company operates.

BCA executive chairman Avril Palmer-Baunack said: “Performance and progress in the first half has been good. BCA’s position as the market leader of integrated solutions for both physical and digital services to the automotive industry has allowed us to facilitate faster changes of vehicle ownership creating a compelling customer offering. We are winning multi-service contracts across de-fleet, refurbishment, inspection and collection, inventory management and physical and digital remarketing, through delivering synergies and efficiencies to customers.”