Trade Me posts slower 1H profit growth, says FY earnings will be 'subdued'

Tue, 17 Feb 2015

By Tina Morrison Feb. 18 (BusinessDesk) - Trade Me Group, New Zealand's largest online auction site, posted slower profit growth in the first half of its financial year as increased investment ramped up costs and only one of its core businesses lifted earnings. The Wellington-based company said net profit rose 1.1 percent to $38.4 million in the six months ended Dec. 31, slower than the 2 percent increase in the same period last year, and the 2.7 percent pace the year earlier. Expenses rose 28 percent to $32.3 million, outpacing a 13 perc...

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