Turnover tops €3m at .ie firm

Irish Independent - Business Week - - BUSINESSWEEK -

TURNOVER at ie Do­main Registry (IEDR), the com­pany re­spon­si­ble for man­ag­ing and main­tain­ing Ire­land’s coun­try do­main name, in­creased to €3.03m, up 6pc on 2015, ac­cord­ing to the com­pany’s an­nual re­port.

De­ferred in­come on the IEDR bal­ance sheet also in­creased by 4pc in 2016 to €2.05m, up from €1.97m in 2015.

How­ever, op­er­at­ing losses af­ter tax at IEDR, de­spite hav­ing more than halved in 12 months, re­mained high, at €126,519, down from €389,311 at year-end 2015.

The com­pany said that con­tin­ued in­vest­ment in its Strate­gic De­vel­op­ment Fund had cre­ated the loss.

The Strate­gic De­vel­op­ment Fund, which IEDR es­tab­lished in 2015, fi­nances pro­mo­tional, mar­ket­ing and cus­tomer ser­vice ini­tia­tives for the .ie names­pace.

CEO David Curtin said that con­tin­ued strong in­vest­ment in the fund would help to con­sol­i­date IEDR’s po­si­tion in the do­main mar­ket.

The com­pany ended 2016 with €3.6m in mem­bers’ funds and €6.3m in liq­uid funds and in­vest­ments.

“2016 was a solid year for IEDR, de­spite macroe­co­nomic un­cer­tainty, new do­main choices and new global trends in do­main own­er­ship, such as shorter do­main life-cy­cles,” Mr Curtin said.

Dur­ing the year the com­pany in­tro­duced new rules to al­low one­and two-let­ter do­mains and do­main names with fadas on vow­els.

It also in­tro­duced a sec­ondary mar­ket to al­low the pri­vate re­sale of .ie do­mains.

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