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Auto Trader publisher announces new chief executive | Auto Trader publisher announces new chief executive |
(6 months later) | |
Auto Trader publisher Trader Media Group has hired Trevor Mather as its new chief executive. | Auto Trader publisher Trader Media Group has hired Trevor Mather as its new chief executive. |
Mather, currently chief executive of IT consultancy ThoughtWorks, replaces John King, who stepped down in September. | Mather, currently chief executive of IT consultancy ThoughtWorks, replaces John King, who stepped down in September. |
He will join TMG in June, with chief financial officer Zillah Byng-Maddick continuing as interim chief executive until then. | He will join TMG in June, with chief financial officer Zillah Byng-Maddick continuing as interim chief executive until then. |
Auto Trader has a successfully transferred its print classified car advertising business online, with about 11 million monthly unique users. | Auto Trader has a successfully transferred its print classified car advertising business online, with about 11 million monthly unique users. |
In its latest results for the six months to 30 September, TMG reported a 6% year-on-year rise in pre-tax profits to £16.9m, with digital growth offsetting a more than 30% decline in sales of Auto Trader magazine. | In its latest results for the six months to 30 September, TMG reported a 6% year-on-year rise in pre-tax profits to £16.9m, with digital growth offsetting a more than 30% decline in sales of Auto Trader magazine. |
TMG said it has all but left behind its historic print business as a successful transition of the brand means that almost 90% of profits now come from digital operations. | TMG said it has all but left behind its historic print business as a successful transition of the brand means that almost 90% of profits now come from digital operations. |
Digital revenues grew 4% year on year to £106.4m, more than 83% of the total underlying revenue of £127.7m for the six-month period. Total revenues fell 3.7% year on year. | Digital revenues grew 4% year on year to £106.4m, more than 83% of the total underlying revenue of £127.7m for the six-month period. Total revenues fell 3.7% year on year. |
TMG is owned jointly by the Guardian Media Group – with a 50.3% stake – and Apax Partners, the private equity group. In January, GMG reportedly called off talks with a potential buyer for TMG. Apax also sounded out GMG about buying its stake in TMG in late 2012. | TMG is owned jointly by the Guardian Media Group – with a 50.3% stake – and Apax Partners, the private equity group. In January, GMG reportedly called off talks with a potential buyer for TMG. Apax also sounded out GMG about buying its stake in TMG in late 2012. |
TMG's other brands include Deltapoint, RAZSOR, 2nd Byte and Autotrade-mail. | TMG's other brands include Deltapoint, RAZSOR, 2nd Byte and Autotrade-mail. |
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