A NET increase of 26.8 per cent in registrations of Irish internet addresses in 2008 saw turnover increase to €2.5 million at the IE Domain Registry (IEDR), but the company booked a €584,000 charge as the value of its investments plummeted.
Chief executive David Curtin confirmed the IEDR was bucking the recessionary trend “to some extent” and said that, with €1.8 million in members’ funds at the end of last year, the company was well positioned.
The IEDR, which yesterday published its annual report, is a not-for-profit company that manages the .ie namespace on the internet.
While the number of new registrations grew by 37 per cent during the year to 34,623, this was offset by non-renewals, bringing the net rise to 26.8 per cent.
Mr Curtin said growth had in part been driven by a 20 per cent reduction in the cost of registering an address.
The €433,647 operating profit, including interest income, in 2008 facilitated the further 10 per cent price cut at the start of this year.
“We generate the profits before giving them back in price reductions,” said Mr Curtin.
Profits were affected by legal fees and other costs associated with ComReg taking over regulatory responsibility for the IEDR. This contributed to a 33 per cent rise in administration costs.
Mr Curtin said new registrations were running at more than 9,000 a quarter so far this year.
