Trade Me first half profit climbs 16% after reinvestment in business

Wed, 22 Feb 2017

By Paul McBeth Feb. 23 (BusinessDesk) - Trade Me lifted first-half profit 16 percent signalling an end to an investment phase for the online marketplace and business, although the result fell just short of analyst expectations. Net profit rose to $46.1 million, or 11.61 cents per share, in the six months ended Dec. 31, from $38.5 million, or 9.71 cents, a year earlier, the Wellington-based company said. Revenue gained 9 percent to $114.9 million and earnings before interest, tax, depreciation and amortisation were up 12 percent to $76.1...

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