Trade Me shares drop 4.2 percent, worst performer on NZX 50, as earnings seen slowing in 2014

Wed, 21 Aug 2013

By Tina Morrison Aug. 21 (BusinessDesk) – Shares in Trade Me dropped to a two-month low after New Zealand’s largest online auction site said earnings growth would slow in the coming year as it invests more in its business. Trade Me shares fell 4.2 percent to $4.50, making the stock the worst performer on New Zealand’s benchmark index today. Earnings before interest, tax, depreciation and amortisation increased 12 percent in 2013 and growth is likely to slow in 2014 as the company invests in improving the performance of its core general item...

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