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Baltic Classifieds settles into listed life

The operator of classified advertising websites announces its first dividend and share buyback scheme
Baltic Classifieds settles into listed life
  • Job ads fuel growth
  • Inflation weighs on margins 

It is still early days for Baltic Classifieds (BCG), the online advertising group that listed last July and serves Lithuania, Estonia and Latvia. Its first set of annual results contain some encouraging news, however – even though the shares have lost more than a third of their value since the IPO. 

Revenue is up 21 per cent year on year, fuelled by impressive sales growth from the group's jobs and services arm. Sales in this division almost doubled to €9.8mn (£8.3mn) as a result of pent up demand in the employment market. However, the biggest segment – auto – grew more slowly, reflecting “modest growth” in the used car market. 

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