Trade Me has reported a flat full year profit.
Photo: RNZ
The company made $80.2 million in the year to the end of June, an increase of 0.1 percent compared with the previous year.
Excluding one-off changes in interest rate swap values, Trade Me's underlying profit rose 3 percent to $81.8 million.
Trade Me chief executive Jon Macdonald said revenue increased 11 percent to $200 million, underpinned by its classified car, property and job ads businesses, which offset declines in its online auction site.
Expenses rose 25 percent, with Trade Me hiring more people and investing in its platforms and new businesses, including the peer-to-peer lending site, Harmoney, and the online credit card processing and payments firm, Paystation.
Trade Me is also expanding its products, offering home, contents and car insurance in partnership with the insurer, Tower.
Looking ahead, Trade Me is expecting similar revenue and earnings growth.
