Turnover tops €3m at .ie firm
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.