Yahoo!Xtra Increases Profit

Yahoo!Xtra Increases Profit

AUCKLAND, 24 March, 2011:

Yahoo!Xtra, the online joint venture between Yahoo!7 Pty Ltd and Telecom New Zealand Ltd, today announced a 2010 net profit after tax result of $1.88m, an increase of 37% on the 2009 financial results.

"The result reflects the continuing growth of digital media, as well as the enormous effort put in by the local Yahoo!Xtra team to deliver content and services that New Zealanders want to access online," says Yahoo!Xtra General Manager, Laura Maxwell-Hansen.

"We expected 2010 to deliver a significant increase in display advertising and it has. Our display and ad serving technologies continue to be the most sophisticated of any online media company in New Zealand and our advertisers want the success that our technology can deliver for their clients."

Yahoo!Xtra has enjoyed strong growth in visitor numbers in the past year. Since March 2010 the site has been the number one homepage for New Zealanders*. The site received more than 5.95 million unique browsers last month.

Yahoo!Xtra Executive Director, Greg Brown, believes Yahoo!Xtra's dedicated local team is key to its growing success.

"We have a great team in New Zealand and our success reflects their hard work. Our audience growth in 2010 is built on the strength of our content offering and our dedicated local editorial team who know what New Zealanders want to read about on-line."

"While the profit result has come entirely from the top-line, it has been enhanced by work within the business to streamline operations and keep costs under control."

ENDS

© Scoop Media