Excellent progress continues
A successful multi-year period of accelerated reinvestment in people, product development, marketing and sales has set Trade Me up for success over the medium to long term.Chairman David Kirk said Trade Me's result reflected the company’s "excellent progress", with double-digit growth in profit and earnings.
Classifieds keep on keeping on
The Classifieds continued to enjoy success. Overall revenue across the three businesses was up 11.3 per cent year-on-year to $125.5m, and growth was stronger in the second half of the financial year.The Classifieds continued to enjoy success. Overall revenue across the three businesses was up 11.3 per cent year-on-year to $125.5m, and growth was stronger in the second half of the financial year.
Marketplace shows good growth
Over the year we’ve introduced several new initiatives and product changes. This included Buyer Protection and Seller Protection, both of which are aimed at enhancing trust in trading onsite.We’re rapt to see ongoing growth in our General Items marketplace. Revenue was up again this year, following on from revenue growth of 3.5 per cent last year.
Property Insights, our tool that provides free information for more than 1.6 million residential properties, has proven very popular and we recently added map based search to this tool. We have also launched a property agent directory, showcasing agents’ talents and helping vendors with a tailored agent recommendation.We have released a suite of products, services and initiatives across Trade Me in F17.
543 people at Trade Me
The majority of our people are still based in our Wellington headquarters, but we now have more than 150 on deck in Auckland. We also have big hiring plans for the South Island, and will be strengthening our presence in Christchurch considerably over the course of F18.The number of staff at Trade Me has grown from 509 (487 FTEs) as at 31 July 2016 to 543 (512 FTEs) as at 31 July 2017. We’re very proud of our contribution to New Zealand as an employer.