Domain registry agency makes more than €500,000 profit

THE AGENCY responsible for managing the Irish IE internet domain registry, made more than €500,000 in profits last year.

The IE Domain Registry (IEDR) reported yesterday that new registrations rose 29 per cent net in 2007 to 90,000 individual domains.

Chief executive David Curtin said yesterday that it passed the 100,000 mark in April.

It cut the cost of registering new names by 13 per cent in 2007.

IEDR said that turnover in 2007 was €2.3 million, while it made a profit of €523,709 after tax. It was its fifth consecutive profitable year.

Profits were down 29 per cent on 2006. The company said that its liquidity strengthened, with cash balances standing at €3 million at the year’s end.

Members’ funds grew by over 30 per cent to €2 million, leaving the company on a more secure financial footing, IEDR’s statement said yesterday.

“The strong financial performance of the registry has facilitated additional investment to further enhance the security, stability and resilience of the infrastructure which helps to keep Ireland’s domain holders online,” the company said.

During the year, it relaxed its rules to allow people to register personal ie domain names. It also began operating Ireland’s electro- nic numbering registry (ENUM).

Anti-virus software developer, McAfee, named the IEDR as second safest country code domain in the world during 2007.

Commenting on the results, Mr Curtin said they showed significant progress in all areas of IEDR’s business, “with growth of 41 per cent in new .ie domains, additional price reductions, maintenance of our market leader status for domain names in Ireland and further consolidation of our financial performance”.

IEDR is a not-for-profit body and is responsible for managing and administering Ireland’s official internet address, ie.