Thursday 27 April 2017

Classified advert site DoneDeal posts 10pc jump in profit

By the end of last year, DoneDeal was attracting over 600,000 visitors on average to its website each day. Stock image
By the end of last year, DoneDeal was attracting over 600,000 visitors on average to its website each day. Stock image

Gordon Deegan

REVENUES and earnings at the firm behind DoneDeal are expected to increase significantly this year its ceo has said, as new accounts revealed the company made a modest loss last year of €2,250.

The reduced pre-tax losses at the firm came as the gross profit increased by €1m or more than 10pc to go from €9.5m to €10.5m.

New accounts show that the online classified website firm paid €2.8m to its shareholders as revenues continued to increase.

In 2015 DoneDeal saw 2.53 million ads on their site with an average of 211,000 ads per month, representing an increase of over 33pc on 2014 figures.

By the end of last year, DoneDeal was attracting over 600,000 visitors on average to its website each day.

“We expect to see significant growth in terms of both revenue and Earnings Before Interest, Depreciation, Tax and Interest (EBITDA) in 2016, and this will continue to grow into 2017 and beyond,” said ceo John Warburton.

“We have made considerable investments in both product and technology. This is extremely important for us so we can continually enhance the experience our customers receive.”

Numbers employed last year increased from 46 to 56 as staff costs went up from €2.82m to €3.6m.

The firm said that “2015 proved to be another exceptional year for DoneDeal in terms of traffic growth and adverts placed on the site”.

A strategic joint venture announcement in 2015 saw DoneDeal join forces with Daft.ie and Adverts.ie to create Distilled SCH.

DoneDeal was established in 2004 by Fred and Geraldine Karlsson.

Today, it is owned by Norwegian firm, the Schibsted Media.

Irish Independent

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