Interim Management Statement

RNS Number:9440L
Tradus PLC
17 January 2008

17 January 2008



                                   Tradus plc

                          Interim Management Statement





Tradus plc (TRAD.L or the 'Group') today presents its unaudited interim
management statement for the three months ended 31 December 2007.



Period highlights:



  * Revenue for the Group increased to �20.5m, a 65% increase compared to the
    three months ended 31 December 2006 (Q3 06/07: �12.4m). Excluding the impact
    of exchange rate movements, in particular a strengthening of the Polish
    Zloty against Sterling, year on year revenue growth was 54%.



  * Gross Merchandise Volume increased to �316.2m, a 55% increase compared to
    the three months ended 31 December 2006 (Q3 06/07: �203.5m).



  * Balance sheet has further strengthened during the period with the cash
    balance increasing from �20.7m as of 30 September 2007 to �27.9m at the end
    of the period. There have been no other significant changes in the financial
    position of the Group since the publication of the Interim Results on 18
    October 2007.



  * Announcement on 18 December 2007 of recommended cash offer from MIH
    Internet, a subsidiary of Naspers Limited. Shareholder meetings to consider
    the offer are scheduled to take place on 8 February 2008. Costs of �1.7m
    related to the offer were incurred during the period.



  * Company name change to Tradus plc, effective 22 November 2007.



  * Appointment of Charles Burdick as non-executive director effective 1
    October 2007.



  * Appointment of Helmut Bernhardt as Chief Financial Officer effective 1
    January 2008; replacing Robert Dighero who will remain as a director with
    the Group during the first half of 2008.



  * Launch of operations in Slovakia (www.aukro.sk).





Christian Unger, Chief Executive Officer, commented:



"This has been an exciting period for Tradus. In addition to strong revenue
growth of 65%, we have continued on our expansion strategy with our launch in
Slovakia, further enhanced our corporate governance and finance function with
the appointments of Charles Burdick and Helmut Bernhardt and have changed our
corporate name to one that is distinct from the operating brands and is more
relevant to our business.



"The board is recommending the cash offer from Naspers at �18.00 a share,
valuing the Group at �946 million and providing a good opportunity for all
shareholders now to realise value in cash for their investment."






Regional analysis
                                                       Three months         Three months
                                                                            ended 31 Dec
                                                       ended 31 Dec
                                                               2007                 2006
                                                          Unaudited            Unaudited
                                                             �000's               �000's      % change
Revenue
Western Europe                                                3,931                3,372           17%
Eastern Europe                                               16,524                9,004           84%
Total revenue                                                20,455               12,376           65%
Gross merchandise volume*
Western Europe                                               74,423               61,956           20%
Eastern Europe                                              241,803              141,526           71%
Total gross merchandise volume                              316,226              203,482           55%
Monetisation**                                                 6.5%                 6.1%


*     Gross merchandise volume is the estimated total value of goods traded through our sites

**    Monetisation is defined as revenue as a percentage of gross merchandise volume




For further enquiries please contact:

Tradus plc, +44 (0)20 7384 6300
Alison Cabot, Investor Relations
Tom Parkinson, Company Secretary

Financial Dynamics, +44 (0)20 7831 3113
James Melville-Ross, Juliet Clarke, Matt Dixon



Background on Tradus plc

Tradus plc (formerly QXL ricardo plc) is a leading European provider of online
consumer trading platforms and offers its services in twelve European countries.
The Tradus platforms connect buyers and sellers 24 hours a day, seven days a
week in a safe, efficient, and entertaining environment. A wide selection of
merchandise and services is available on its sites, ranging from computer
software and hardware to clothing, household items, cars and collectibles.
Tradus is a publicly listed company. Its shares are listed on the Official List
of the London Stock Exchange and are included in the FTSE 250 index of leading
shares.

Tradus' principal websites are:

Bulgaria             www.aukro.bg                   Poland              www.allegro.pl

Czech Republic       www.aukro.cz                                       www.ototmoto.pl

Denmark              www.qxl.dk                                         www.otodom.pl

Hungary              www.teszvesz.hu                                    www.ceneo.pl

Norway               www.qxl.no                                         www.payu.pl

Romania              www.aukro.ro                                       www.paygsm.pl

Russia               www.molotok.ru                                     www.platnosci.pl

                                                                        www.istore.pl
Slovakia             www.aukro.sk                   Switzerland         www.ricardo.ch

Ukraine              www.aukro.ua                   UK                  www.qxl.co.uk



Forward-looking statements

This document may contain forward-looking statements that relate to the Group's
plans, objectives, estimates and goals. The Group's business is subject to
numerous risks and uncertainties, including risks associated with: technology,
litigation and regulation, growth of the online commerce market, and
competition. These and other risks and uncertainties could cause the Group's
actual results and developments to be materially different from those expressed
or implied by any of these forward-looking statements.

Copies of this document are available from the Company's registered office - The
Matrix Complex, 91 Peterborough Road, London SW6 3BU and will be available on
the Tradus website, www.tradus.com.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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