Trade Me lifted its full year net profit, but was hampered by underwhelming revenue growth in its auction activities and by the extra interest it has to pay as a result of its former parent loading it with debt ahead of its float.
Net profit for the online auction website rose 4% to $78.6 million in the 12 months ended June.
Operating profit rose 12% to $123.5b million, bolstered by a 15% rise in revenue to more than $164 million.
Trade Me's Classified business was strong during the year, with nearly 30% revenue growth.
However, revenue from its traditional auction activities grew by just 5%, and the company says it had a slower than hoped pick-up of its new goods stream.
Interest costs as a result of debt taken on during Trade Me's float by Fairfax Media in December 2011, rose from $4 million to more than $7 million.
Chief executive Jon Macdonald also announced the company will buy LifeDirect, an online insurance comparison business. The deal is expected to be completed next month.
Trade Me will pay a final dividend of 8.3 cents per share.
