A satisfactory financial year
We've had an acceptable year on the financial front. We delivered record revenue and profit, but the focus this year has been on reinvestment and hard work. Our General Items business remains flat, Classifieds are going very well, and the Other segment is on track.Chairman David Kirk said the result was in line with expectations: "Trade Me shareholders own a great company, and we've dedicated our attention to positioning the business for longer term growth."
As predicted last year, we’ve seen rampant growth in usage of Trade Me via mobile phones and tablets. In July 2014, for the first time ever, more sessions on Trade Me took place via our touch site and native apps than via our ‘main’ desktop site.This follows on from the January 2014 milestone when more than half of all sessions to Trade Me's official pages and apps were via a mobile device.
Classifieds keep delivering
These three businesses have continued to be the engine room for Trade Me's growth. Collectively they delivered 47.5% of our overall revenue in F14, up from 42.5% in F13.Trade Me Motors retains a very strong market position. The acquisition of MotorWeb has gone very well and we’re looking forward to introducing 'bundled products’ to make the most of the broad services we offer to vehicle dealers in particular.
New additions going well
We’ve been especially happy with the performance of LifeDirect, the Wellington-based online comparison site for life and health insurance. Tim, Conor and the team wrote 69% more insurance policies in F14 than in F13 so they are clearly doing a lot right.MotorWeb is an online business that packages and sells motor vehicle information and reports to finance companies, insurers, car dealers and the general public. It has a strong footprint in New Zealand and a developing one in Australia.
357 staff at Trade Me
We've strengthened our senior management team in F14 with several new hires including Head of Design, Head of Analytics, Head of Trade Me Jobs and Head of Advertising. Nigel Jeffries took the reins of Trade Me Property in April 2014, and has recently joined the Executive team.There was a substantial increase in costs, but we regard this as necessary to convert on opportunities and ensure we position Trade Me for the longer term.
Welcome to the 2014 Trade Me Annual Report microsite. This sets out various information relating to the year ended 30 June 2014.
If you’re a Trade Me investor, thanks for your support. And if you’re not an investor, we hope you find something here of interest.