Trade Me boosts annual profit 26%; warns growth will slow in 2018

Wed, 23 Aug 2017

By Tina Morrison Aug. 24 (BusinessDesk) - Trade Me, New Zealand's largest online auction site, posted a 26 percent jump in annual profit as it reaped the benefits from its earlier spending on staff, product development, marketing and sales. However it warned earnings growth will slow in the coming year as it ramps up investment. Net profit rose to $94.4 million, or 23.76 cents per share, in the 12 months ended June 30, from $74.9 million, or 18.87 cents, a year earlier, the Wellington-based company said in a statement. Revenue increased 7...

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