iProperty (ASX: IPP), the owner of Asia’s leading property portal sites under the iProperty brand (www.iproperty.com), released its 4C statement demonstrating the continued strong financial growth of the business. Q4 cash receipts increased by 77% when compared with Q4 in 2010. For the full year, cash collections were A$11.6m (US$12.1m) up from A$7.3m (US$7.6m) in 2010.
The iProperty Group also achieved a 103% increase in consumer traffic, a 72% increase in paying agent advertisers to almost 19,000 and a substantial increase in revenue coming from property developers during 2011, extending its leadership position in the region.
“2011 finished very well for the Group. Our year-on-year results have been outstanding and ahead of our expectations. Our cash receipts continued to grow in line with our leadership position in our core markets of Malaysia, Hong Kong, Indonesia and Singapore while we continue to retain our investments in India and the Philippines. Our performance in 2011 provides us with an outstanding starting point for 2012 with each of our core markets on track. We have a clear strategy for each country and continue to focus on executing our plans” said iProperty Group CEO, Shaun Di Gregorio.
“In Malaysia we’ve extended our leadership position with more agents, property developers and property listings driving a huge growth in consumer traffic. In Indonesia we’ve made outstanding progress. Having signed partnership deals with the three largest franchise groups ERA, Ray White and LJ Hooker, we have more than tripled our agent customer base to 3,300 paying customers and now achieved 1,000,000 consumer visits in the last month. This has consolidated and extended our leadership position in Indonesia” said Di Gregorio.
“In Hong Kong, gohome.com.hk was awarded ‘Property portal of the Year 2011’ by leading industry experts and consolidated our leadership position recording a 100% increase in consumer traffic and increasing customers to more than 1,000 agencies. And in Singapore we grew consumer traffic by 64% and increased our customer base to more than 5,800 agents”.
“As we look toward 2012 we continue to focus on providing our customers with more exposure and more leads and ensuring our consumers get the best possible experience when searching for property on one of our market leading websites” added Di Gregorio.
The market received the information well with iProperty Group shares up over 5% to $1.00 at close of trading on strong volumes.
SOURCE: iProperty Group