Trade Me posts slower earnings growth in 1H, invests for future profits

Tue, 18 Feb 2014

By Tina Morrison Feb. 19 (BusinessDesk) – Trade Me Group posted a slower pace of earnings growth in the first half of its financial year as New Zealand’s largest online auction site invested in marketing and more staff to improve its service and position it for higher profit growth next year. Net profit rose 2 percent to $38 million in the six months ended Dec. 31, slower than the 2.7 percent growth in earnings in the year earlier period, the Wellington-based company said in a statement. Profit was below First NZ Capital’s estimate of $40.9...

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