Trade Me Group Ltd Subdued revenue growth for Trade Me Property
Subdued revenue growth for Trade Me Property: Trade Me Group Ltd (ASX: TME) in its interim financial results for the six months to 31 December 2016, reported that the revenue of $114.9 million in the first half of F17 was up 8.8% over prior corresponding period. Earnings per share also rose to 11.61 cents. Trade Me Motors witnessed a revenue increase of 7.5% while Classifieds segment’s revenue was up 9.9% and General Items’ revenue soared 9.3%. On the other hand, Trade Me Property reported subdued revenue growth of 4.8%. This was at the back of a soft property listings market. There was a 5% rise in expenses year-on-year. Recently, Annie Brown has joined the group as Chief People Officer. FY17 EBITDA and operating NPAT growth rates are expected to exceed FY16 levels. However, the stock price has plunged 2.6% in last six months while recovering only 1.94% in last three months (as at April 18, 2017).
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