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Pre-tax profits dip 24% at registry in past year

Pre-tax profits at the firm that operates the internet domain name registry decreased by 24% to €253,462, last year, in spite of revenues increasing by 5%.

New accounts filed by IE Domain Registry show that the firm’s revenues jumped by €136,000 during the year going from €2.58m to €2.72m in the 12 months to the end of December.

The company said in its annual report: “Net additions to the .ie domain registry to year end 31 December 2014 were 8,730, which is a 75.1% increase on net additions in 2013 (4,985), and amounts to a net yearly growth of 4.7%.”

IE Domain Registry chief executive David Curtin said: “The registry for the namespace performed exceptionally well in 2014 despite the massive increase in competitive intensity and choice in the marketplace, arising from the arrival of 472 alternative domain extensions.”

As of the end of 2014, had a market share of 49.5% (2013 — 47.9%), followed by at 27.4% (2013 — 30.6%). According to the recently published Domain Profile Report, over 200,000 domains were registered for the first time at the end of the first quarter of this year.

According to Mr Curtin: “2014 was a strong year for the domain registry with positive growth recorded in both turnover and net yearly growth of registered domains. We are extremely pleased that .ie remains the identifiably Irish domain of choice for Irish businesses.

“It is encouraging to see an increase in the number of individuals, communities and businesses migrating online, which is reflective of the wider economic recovery. To ensure that we remain on this positive upward trajectory, we would call on the Government to accelerate broadband and other digital initiatives to continue to improve the digital health of the online community.”

Some 43% of registrants are based in Dublin with Cork having 7.7%, Galway 4%, and Kildare 3.86%; with a swathe of counties, including Wexford, Kerry, Waterford, Tipperary, Clare, Mayo, Donegal, Kilkenny, Carlow, and Westmeath, having between 1% and 2%.

The company’s accumulated profits as of the end of December totalled €4.1m. That included cash of €3m. Numbers employed by the firm totalled 20, with staff costs amounting to €1.3m.

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