IPGA, parent company of the iProperty Group of portals, has released its 2010 annual results showing an 80 percent jump in revenue to AUD$7.3 million.
IPGA says its Malaysian operations became profitable in 2010, with a 124 percent increase in revenue to MYR 11.8 million. Paying agent subscribers increased by 73 percent to over 5,300, and unique visitors jumped by 98 percent year-on-year, reaching a total of over 750,000 in January 2011.
IPGA acquired Malaysia’s number two portal, thinkproperty.com.my, in August 2010. The company now says it is estimated that its Malaysian offering accounts for 82 percent of all consumer traffic visiting real estate websites in Malaysia.
In Singapore, IPGA increased revenue by 70 percent to SGD 2.8 million, and paying agent subscribers increased by 73 percent to over 5,200, with another 2,000 now trialling the service. Traffic was also up 69 percent year-on-year, with a total of 410,000 unique visitors seen in January 2011.
In Hong Kong, revenue increased by 77 percent to HKD 7.2 million, and almost 800 agencies are now accessing services provided by gohome.com.hk. Unique visitors grew 42 percent year-on-year, reaching 270,000 in January 2011.
Disclosure: CAV Investment Holdings, a related party of Classified Ad Ventures – the owner of propertyportalwatch.com – owns shares in iProperty Group parent company IPGA.