Despite the recession (which impacted badly on most of the rest of Fairfax’s businesses) our favourite online auction site saw an increase in revenues of 22.1%. Meanwhile Fairfax’s NZ newspaper and magazine advertising revenues were down 14.6%.

Trade Me contributed earnings* of NZ$38.2 million to the Fairfax coffers — incidentally, meeting (for the second and final year) the revenue targets set when Trade Me was sold to Fairfax in 2006. As a consequence, Sam and the other original investors earned another NZ$45.2 million to add to their $700 million payday for Trade Me. Nice for them, but also good news for Fairfax — Trade Me continues to deliver healthy revenues despite today’s economic conditions.

One other point to note from today’s announcement: Trade Me’s NZ$38.2 million compares more than favourably to the $70.2 million earnings* contribution from the 80 newspapers and 25 magazine/guide publications from Fairfax New Zealand. This web lark seems to be quite promising after all!

*Strictly, EBITDA (earnings before interest, tax and depreciation allowance) — but we know you prefer plain English in your financial reporting.

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