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Adam Hewitt
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Copart, Inc. releases second quarter fiscal 2018 financial results

Copart, Inc. a global leader in online vehicle auctions recently reported financial results for the quarter ended January 31, 2018.

For the three months ended January 31, 2018, revenue, gross margin, and net income were $459.1 million (£324.2 million), $191.6 million (£134.9 million), and $103.3 million (£72.7 million), respectively. These represent an increase in revenue of $109.6 million (£77 million), or 31.3%; an increase in gross margin of $44.8 million (£31 million), or 30.6%; and an increase in net income of $37.2 million (£26.1 million), or 56.3%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.43 (£0.30) compared to $0.28 (£0.20) last year, an increase of 53.6%.

For the six months ended January 31, 2018, revenue, gross margin, and net income were $878.3 million (£620.5 million), $354.9 million (£250.2 million), and $180.8 million (£127.2 million), respectively. These represent an increase in revenue of $182.8 million (£128.6 million), or 26.3%; an increase in gross margin of $62.8 million (£43.8 million), or 21.5%; and a decrease in net income of $52.6 million (£36.7 million), or 22.5%, respectively, from the same period last year. Fully diluted earnings per share for the six months were $0.75 (£0.53) compared to $0.99 (£0.70) last year, a decrease of 24.2%.

To read the full story click here www.copart.com

Note: Currency conversions as of 22nd March 2018 at 11:22 UTC using XE Currency Converter (http://www.xe.com/currencyconverter/)

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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.