Trade Me annual profit rises 4 percent, warns of slower growth in 2014 as it reinvests in the business

Tue, 20 Aug 2013

By Tina Morrison Aug. 21 (BusinessDesk) – Trade Me, New Zealand’s largest online auction site, posted slower profit growth for 2013 and warned earnings growth would remain tepid in the coming year as it reinvests in its business. Trade Me profit rose 4 percent to $78.6 million in the year ended June 30, slower than the 8.4 percent pace a year earlier, the Wellington-based company said in a statement. Revenue rose 15 percent to $164.1 million as classified advertising sales surged 29 percent while fees from sales of general items rose 5 percen...

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