Buy4Now expects surge in profits

BUY4NOW, the Dublin-based online grocery and shopping portal site, is forecasting net profits of between €800,000 and €1 million for its current financial year, following strong growth in the year to the end of March.

The company yesterday reported a 47% increase in turnover to €5.08 million for the last 12 months. The period also saw a 58% rise in visitor numbers to its website and a 288% surge in net profit to €602,635 up from €155,399 in the previous year.

There was growth both in the domestic market and in the US, where the company has recently established an online sales information website called eGroceryUSA.com.