Trade Me Profit $NZ37.4 million, up 2.7% 1H2013

Submitted by Share Trading on 20 February, 2013 - 20:32

Online auction website, TradeMe (ASX:TME) has released its first half results for FY 2013. Trade me is a website spun out of Fairfax in 2011.

  • Trade Me Net Profit $NZ37.4 million, up 2.7 percent from $NZ 36.4 million in the previous corresponding period.
  • The result surpassed a revised forecast from its initial public offer of $NZ34.8 million.
  • Trade Me Revenue up 18 percent to $NZ80.4 million.
  • EBIT (Earnings before interest, tax, depreciation, amortisation and depreciation) up 14 percent to $NZ59.2 million
  • Trade Me chairman David Kirk said
  • Last year, Fairfax had sold its controlling 51 percent stake to pay off debt and concentrate on core business.
  • Trade Me is New Zealand's most visited web site. They have around 2.5 million members in a country of a population of 4.4 million. The website has online auctions and classified advertising sections for jobs, property, holiday accommodation, and cars.
  • The company declared an unfranked dividend of 7.5 cents per share.
  • The company made 3 acquisitions last year: holidayhomes.co.nz directory site, Tradevine inventory management tool and Autobase classifieds site.

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