New Zealand online marketplace Trade Me continues a run of successes by posting NZ$180.1 million in increased revenues over the past year.
Trade Me was already considered one of New Zealand’s most successful e-commerce stories as the nation’s premier online marketplace. Having just posted record revenue and profit figures, the company has gone a long way in cementing its reputation.
Revenue for the Trade Me Group was NZ$180.1 million in the year ending June 30 – a 10 percent increase on the previous year. Meanwhile, net profit after tax is reported to be NZ$80.1 million, which is a two percent increase on 2013.
The group reports that strong growth has been realised in motors, property and jobs categories, which delivered a combined 48 percent of Trade Me’s overall revenue, representing a 43 percent increase from the previous period. The group also acquired three businesses over the timeframe, namely MotorWeb, LifeDirect and Paystation.
Jon Macdonald, CEO of Trade Me said in a statement that the group had been investing strongly but smartly over the year and that he expects even greater returns in the future.
“We’ve continued to hire strongly and develop additional products, especially in mobile and across our marketplace and property businesses,” he said.
“We expect to grow both revenue and EBITDA over the coming year, but our focus will be on improving the products that we offer, and strengthening our sales and account management.”