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Online: Ebay profits soar to €2.8m

THE Irish arm of online auction giant eBay increased its profits by almost five-fold to €2.85m last year as it increased employee numbers by 115.

New figures show that profits after revenues increased by 36pc from €25.5m to €34.7m in the 12 months to the end of December 2010.

The company, headed by CEO John Donahoe (above), whose principal activity is providing customer-support services, corporate administration services and other services on behalf of the eBay group, said that the numbers employed by the company increased from 387 to 502 last year.

According to the directors' report "the business has performed broadly in line with expectations for the year".

The company employed more than 500 at the end of 2010 and the directors stated that the increase was as a result of a further expansion of European customer support activities in the company.