Company behind Daft and DoneDeal increases profit by a third

It made a profit before tax of €12.2 million, which was up from €9.5 million the year before. After tax, it made a profit of almost €10 million, which was up from €7.5 million, and which was transferred to reserves. Turnover came to €41.4 million, up from €36.7 million.

The accounts show the group increased its headcount from 140 to 148, and increased spending on staff from €12.6 million to €14.2 million.The resulting joint venture company, Distilled Ltd, is 50 per cent owned by the Fallons, who hold their shares through DML Capital Unlimited – also Journal Media’s ultimate parent company – and 50 per cent owned by Adevinta, a Schibsted spin-off.

It flagged other risks including the failure to adopt new advertising formats or to attract new users or monetise existing traffic.

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