Trade Me's reach into the financial services market yet to pay off

Thu, 18 Aug 2016

By Fiona Rotherham Aug. 18 (BusinessDesk) - Trade Me’s foray into the financial services market is yet to prove a winner with its fledgling insurance business under-performing and an investment in loss-making peer-to-peer lender Harmoney causing a drag on profits. The Wellington-based online marketplace and classified advertising business today reported a 9.2 percent revenue uplift to $218 million for the year ended June with its general items marketplace restoring revenue growth after a two-year absence. Underlying profit was up 3.5 perc...

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