Trade Me has made a smaller first half profit on record high revenue.
Trade Me's net profit fell 4.3 percent to $44.4m for the six months to December. Photo: RNZ
The online advertising portal's net profit fell 4.3 percent to $44.4 million in the six months ended in December, including $5.8m of one-time takeover expenses.
Revenue rose 7.3 percent to $132.2m, driven by strong year-on-year 13 percent growth in classified ads, which contributed nearly 60 percent of total revenue.
"We're pleased to report record revenue and a result in line with the guidance provided to investors in August and November last year," chair David Kirk said.
Mr Kirk added this was expected to be the company's last interim report to the market, given its scheme of arrangement with Apax-owned Titan.
He said the takeover was progressing to plan and shareholders were expected to receive all the details about the takeover offer ahead of a special meeting in early April.
The company expected full year revenue growth to be five to eight percent above last year's result with similar growth in net underlying profit, which grew by 8.1 percent to $50.2m in the six months just ended.
