15 Oct 2015

Trade Me sees growth ahead

10:12 am on 15 October 2015

Online trading website Trade Me says the number of auctions on its site is increasing, and it is confident about the growth outlook for its business.

Revenue growth for the current financial year is expected to be similar to last year, but the second half of the year should be stronger than the first half.

TradeMe chief executive Jon MacDonald said growth was coming from its classifieds business, which advertises cars, property and jobs, and from its new insurance comparison site, Life Direct.

He said a redesign of its Trade Me website was also paying off and had reversed the fall in its traditional used goods auctions.

"In the last few months, we've started to see that turn around with the changes and improvements we've been making, such that in September sales of used goods grew 6 percent year on year, so we're happy with the progress," he said.

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