CEO Rolv Erik Ryssdal of Norway’s Schibsted says the company is well positioned for further growth in online classifieds
** Ryssdal spoke at an investor presentation in London on Tuesday:
** “We are reaffirming our target for 15-20 percent growth in revenue for online classifieds.”
** “We have strong organic growth but we will also consider bolt-on acquisitions and joint ventures. We will focus on growth in the markets we are already in, but we will also look in adjacent markets.”
** “We try to be cautious and do a lot in the markets we are already in. We are among the more prudent players, that’s why we have passed on some acquisitions that we found to be too pricy.”
** Board Chairman Ole Jacob Sunde said: “We have to balance the prices (of possible acquisitions) with the opportunities since we have such a strong organic growth.” (Reporting by Camilla Knudsen, editing by Terje Solsvik)
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Source: Reuters.com
