News: TME Trade Me FY net profit down 6.5 pct on year

WELLINGTON, Aug 18 (Reuters) - Trade Me Group Ltd (TME) Thursday reported a lower full-year net profit due to a one-off impairment charge.

The online marketplace and classified advertising business said its net profit in the year to June 30 was NZ$74.9 million ($54.28 million), down 6.5 percent on the year.

However, "excluding a one-off impairment charge, underlying profit was up 3.5 per cent year-on-year to NZ$83 million," said Trade Me Chairman David Kirk in a statement.

Revenue increased NZ$218 million, up 9.2 percent on the year.

The company said it would pay a final dividend of 9.0 New Zealand cents a share.

Looking ahead, Chief Executive Jon Macdonald said the company expects total revenue in the current financial year to grow at a similar rate to the prior year and expects to "deliver year-on-year EBITDA and operating NPAT growth rates in excess of FY16." ($1 = 1.3799 New Zealand dollars)