Online classifieds operator Carsales.com has grown full year profit by 17 per cent and is focussed on driving its business into overseas markets.

The online car advertiser made a net profit of $83.5 million in the 2012/2013 financial year, up from $71.6 million in the previous year.

The company said enquiry volumes on new cars and the number of cars advertised were higher than the previous year, and its revenue grew by 17 per cent.

Greg Roebuck, CEO of Carsales.com, said growing the company’s overseas businesses would be a key objective for the 2013/14 financial year.

Carsales recently bought into two offshore counterparts – Brazil’s Webmotors SA and iCar Asia, which operates auto sale sites across Thailand, Malaysia and Indonesia.

“We have for many years looked offshore in high growth markets … and this year we were pleased to have taken the next step on two such opportunities,” he said.

“We believe we can add substantial value to these two great businesses.” But Mr Roebuck stressed the international investments would not take away from Carsales’ mostly domestic focus.

Carsales shares were up 30 cents, or 3.0 per cent, at $10.35 at 1334 AEST.

AAP