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magazineBaltic Classifieds is motoring ahead with online sales growth
Shares in Baltic Classifieds (BCG) – the leading online classified advertising firm in Estonia, Latvia and Lithuania – have been on a roll since posting strong half-year results in December.
The company operates 14 portals for classified ads, covering four areas – automotive, real estate, jobs and services, and generalist – and serving businesses and consumers.
Each division increased its market share in the six months to October while at the same time the firm raised its prices, meaning sales jumped 19% on the previous year to almost €30 million.
Reported operating profits rose five-fold on the same period the previous year, when the company went public and had to absorb listing and other one-off costs, from €2.4 million to €14.3 million.
On top of raising prices and gaining market share, the firm has benefited from the steady increase in prices of second-hand cars and property across the Baltics.
Group sales growth is expected to have slowed in the second half to the end of March, with the full year results due at the end of June.
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