Trade Me posts flat 1H profit; warns FY18 profit will grow at a slower pace than FY17

Tue, 27 Feb 2018

By Tina Morrison Feb. 28 (BusinessDesk) - Trade Me, New Zealand's largest online auction site, said earnings didn't budge in the first half as its expenses grew faster than revenue and it expects full-year profit to grow at a slower pace than last year. Net profit rose was unchanged at $46.1 million, or 11.6 cents per share, in the six months ended Dec. 31, the Wellington-based company said in a statement. Total revenue gained 6.8 percent to $122.7 million, lagging behind a 9.2 percent rise in total expenses to $43.9 million. Trade Me...

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