Shares in Carsales.Com ascend by up to 5.7%, reaching a record high of A$26.

The online auto classifieds company recently announced their annual adjusted NPAT of A$278 million, a 43% increase from the prior corresponding period.

Additionally, they posted a revenue of A$781 million, an impressive 53% increase compared to the previous corresponding period.

Carsales.Com expects to deliver significant growth in revenue and EBITDA in the 2024 fiscal year on a proforma basis.

The company also anticipates an expansion in the group’s EBITDA margin on a proforma basis in 2024 fiscal year.

Their stock has posted its most significant intraday gain since November 11, showing a 19.4% increase this year as of the last closing.

Carsales.Com (ASX:CAR) is an online platform for automobile classified ads.