The IE Domain Registry, which manages the registration and administration of Ireland’s internet address dot.ie, has announced improved turnover but slightly lower profits following publication of its annual results this morning.
Group operating profit after tax was €864,000, which was down slightly on 2004 figures, while revenues of €2.36m showed an increase of 5.9pc on the 2004 figures. The IEDR said its profits were due to tight control on operational costs, offset by more spending on infrastructure and customer service improvements.
New registrations of .ie domains in 2005 were up by 36.8pc. Total registrations for the namespace stand at almost 60,000 as of the beginning of this month. It is estimated that the .ie domain has more than 46pc market share, which the IEDR claimed puts it in first place among domains in Ireland.
According to David Curtin, chief executive of the IEDR, the .ie domain space grew by 26pc last year. “The IE Domain Registry’s financial and operational performance was very strong in 2005,” he said. During the year the group made its most significant price reduction to date, he added. That price cut was introduced at the start of the year and the IEDR said that prices for .ie domain names had now fallen by more than 40pc over the past three years.
The company is cash flow positive and outlook for continued growth and development is “excellent”, the IEDR said in a statement. It said it anticipated “continued strong growth” in registrations for the remainder of the year and said it hoped to surpass last year’s high growth levels.
In its statement the IEDR also referred to the increasing number of websites with local, relevant, and compelling content, such as www.daft.ie and www.myhome.ie, in bringing more people online. “Takeup of broadband by SMEs is also important in this regard,” the IEDR said.
By Gordon Smith