Domain registry reports after-tax profit of almost €300,000

More than 30,000 new domain names were registered with the Irish domain registry agency (IEDR) last year, bringing the total number of registered .ie domains to 187,269.

In its latest annual report, the agency said the .ie extension now has a market share of 47.9 per cent in Ireland.

New domain registrations declined 4 per cent last year to 32,154 (compared to 33,484 in 2012) and when offset by 27,169 non-renewals the result was a net addition of 4,985 domains to the .ie database.

The IEDR reported a 5.8 per cent increase in profit after tax to almost €300,000, on the back of registration fee income of €2.6 million for the year.

Operating profit after tax was €299,177 compared to €282,706 in 2012. IEDR chief executive David Curtin said the figures demonstrate ongoing growth in the .ie database, albeit at a slightly slower rate than in previous years, in light of prevailing economic conditions, particularly for small businesses and sole traders who account for the vast majority of registrations.

“We are on a sound financial footing for the year ahead with a strong balance sheet that will enable us to continue growing the .ie domain, investing in new infrastructure and in the development of the .ie brand,” he said.

On the international front, he said the IEDR is continuing to monitor ICANN’s expansion of the global domain namespace by adding hundreds of new generic top level domains, which will represent a challenge for Ireland’s brand managers, trademark and patent holders and the owners of intellectual property rights.

He said the 14.9 per cent level of non-renewals was similar to 2012, reflecting shorter domain life-cycles, as domains become increasingly used for the promotion of one-off events and campaigns.

“There are company closures, but the lifecycle of domain names is shorter now too. A lot of people just register a domain name for a particular event.”