27 April 2017 – interim management statement
An excellent trading update has been released. In the first quarter of 2017 underlying profit before tax increased by 17.6%. Revenue grew by 10.4% on a like for like basis with used revenue growth of 23.3%. Online visits to Stratstone.com and Evanshalshaw.com increased by 27.5% and the Group attracted 8 million visitors to the websites. The company has completed £10m of the £20m share buyback programme that was announced in May 2016 and this process should help mop up loose shares. The business looks very solid and we are comfortable with a BUY recommendation.