- Revenue up 9.2% on F15 to $218m
- EBITDA up 4.5% on F15 to $140m
- Net operating profit up 3.5% on F15 to $83m
- Earnings per share of 18.87 cents
- Dividends of 7.8c per share paid in March and 9.0c per share to be paid in September
The year ended 30 June 2016 has been one of good progress for Trade Me. Our reinvestment in the business over the last three years is coming to fruition, with positive momentum in core metrics, and revenue growth translating into earnings growth as that reinvestment comes to completion.
Our revenue continued to grow strongly to a new record of $218.0m, up 9.2 per cent on F15’s $199.7m.
The rate of our expense growth continues to decline. Expenses grew by 17.8 per cent year-on-year, down from 25.5 per cent growth in F15, as our period of significant investment comes to an end.
Our EBITDA for F16 was $140.5m, up 4.5 per cent year-on-year. Excluding the losses from our stake in peer-to-peer lending start-up Harmoney, our EBITDA was up 5.1 per cent year-on-year.
Trade Me’s net profit after tax was down 6.5 per cent year-on-year to $74.9m but excluding a one-off impairment charge, underlying profit was $83.0m, up 3.5 per cent on a year ago.
The return to profit growth was good to see, after our period of sustained investment. Since 2013, we have substantially strengthened the business by growing our staff numbers, bolstering our marketing, making our products better and enhancing our sales capability.
Earnings per share for F16 was 18.87 cents. A fully imputed final dividend of 9.0 cents per share will be paid on 20 September 2016. This follows on from the interim dividend of 7.8 cents per share paid on 22 March 2016.