Digital sales grow for Trader Media

Trader Media Group (TMG) yesterday reported solid sales for the six months to 2 October, buoyed by online growth.

Jointly owned by Guardian Media Group and Apax Partners, TMG showed an underlying revenue increase of four per cent to £135.4m, with total digital revenue up 15 per cent to £96.4m.

Its underlying earnings increased by 10 per cent to £70.6m. Free cash flow at the end of this period was up 12 per cent to £42.2m.

The group’s leading brand, Auto Trader, is the UK’s number one motoring website.

In August TMG launched the Auto Trader Index, a quarterly index that tracks the asking prices of used cars by type.

The group successfully raised an additional £150m of debt from a new term loan in June 2011, and in August was able to pay a dividend of £115.5m.

TMG chief executive John King said: “Despite the tough conditions, we remain confident that we will be able to continue to grow the business.”