ATG announces HY24 Interim Results

ATG, operator of world-leading marketplaces for curated online auctions, announces its unaudited financial results for the six months ended 31 March 2024.

John-Paul Savant, Chief Executive Officer of Auction Technology Group plc, said:

“ATG is executing against the investments we are making and where we’ve invested, we are growing. Our focus in FY22 and FY23 was upgrading the online auction user experience through the rollout and growth of value-added services, and as outlined in December 2023, in FY24 we are now focused on initiatives that drive GMV. We launched atgXL, our new cross-listing offering, that further differentiates our proposition for auctioneers and bidders and enhances our network effect. Since the launch of these new products, we have been very pleased with the auctioneer response, the trends in bidder activity as well as the differentiation this gives ATG’s white label over competing white labels. This differentiation hinges on an auctioneer’s ability to run a white label whilst simultaneously cross-listing onto multiple ATG marketplaces, all from a single work flow, thus lowering operating costs and giving the auctioneer greater exposure to bidders for minimal effort."

"The strong momentum that we are seeing from our strategic programmes, as well as the improved trajectory in Proxibid, gives us confidence in revenue acceleration in the second half of FY24.”

For the full statement, please see ATG HY24 Results Statement