ASX/MEDIA RELEASE
IPGA Delivers Strong Growth in First Half of 2011
25th August 2011: iProperty Group Limited (ASX:IPP), the owner and operator of market leading real estate portals in Malaysia, Hong Kong, Singapore and Indonesia, today announced revenues of A$5.2 million for the first half of 2011, a growth of 80% over the previous corresponding half year.
| AUD millions |
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
| Revenues from Continuing Operations |
80% |
5.21 |
2.90 |
1.90 |
| NPAT from Continuing Operations |
26% |
(1.13) |
(1.54) |
(1.08) |
| Operating Cash Flow |
17% |
(0.72) |
(0.87) |
(0.61) |
On a local currency basis, Malaysia, Hong Kong and Singapore all delivered strong half year on corresponding half year growth.
| Millions |
Currency |
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
| Malaysia |
MYR |
114% |
9.82 |
4.59 |
2.44 |
| Singapore |
SGD |
79% |
1.97 |
1.10 |
0.69 |
| Hong Kong |
HKD |
42% |
4.56 |
3.20 |
1.61 |
iProperty Group Chief Executive Officer, Shaun Di Gregorio, commented ”We have had a very strong start to 2011. The first half results reflect our decision to focus on our three core markets of Malaysia, Hong Kong and Singapore. We are very clear on our business strategy and have significantly improved the quality of our management team. Our focus is to continue to build upon our market leading positions by growing our online revenue with a focus on agent penetration, listings content, unique visitors and leads to our customers. We believe the progress we’ve made over the last six months provides us with an excellent platform for continued strong growth.”
Malaysia
iProperty.com.my is the leading property portal in Malaysia. It is the clear leader and continues to deliver strong growth, with half year on corresponding half year advertising revenues growing by 146%. Revenue from the magazine and events business grew by 63% during the first half year.
| MYR millions |
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
| Advertising Revenues |
146% |
6.88 |
2.80 |
1.16 |
| Magazine and Events Revenues |
63% |
2.94 |
1.79 |
1.27 |
Underlying this strong growth was an increase in paying agents to 6,828 as at 30 June 2011, representing growth of 58% from June 2010. During the same period the number of property listings increased by 71% and the number of unique visitors to the website grew by 108%.
|
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
|
| Paying Agents (as at June 30th) |
58% |
6,828 |
4,318 |
2,271 |
| Unique Visitors (June) |
108% |
892,894 |
429,276 |
267,729 |
| Listings (June) |
71% |
171,000 |
100,001 |
58,496 |
Singapore
iProperty.com.sg is the equal market leader in the Singapore market. During the first half of the year, revenues grew by 79% to SG$1.97 million.
| SGD millions |
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
| Revenues |
79% |
1.97 |
1.10 |
0.69 |
Underlying the strong first half growth has been a major focus on increasing the number of agents with the result being a 42% increase from 4,111 as at 30 June 2010 to 5,846 as at 30 June 2011. During the same period, there was a 61% increase in the number of property listings and a 139% increase in unique visitors.
|
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
|
| Paying Agents (as at June 30th) |
42% |
5,846 |
4,111 |
1,644 |
| Unique Visitors (June) |
139% |
734,793 |
307,273 |
223,837 |
| Listings |
61% |
73,625 |
45,672 |
22,691 |
Hong Kong
In Hong Kong, the iProperty Group operates under the GoHome.com.hk brand. GoHome is the leading property portal in Hong Kong. It has established a solid lead over its competitors and continues to deliver strong revenue growth, with half year on the corresponding half year revenues growing by 42%.
| HKD millions |
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
| Revenues |
42% |
4.56 |
3.20 |
1.61 |
Underlying the strong growth in revenues has been an increase in paying real estate agency offices to 871 as at 30 June 2011, representing an increase of 41% over the number of offices at 30 June 2010. During the same period, there was a 102% increase in property listings and a 75% increase in unique visitors.
|
Growth |
1H 2011 |
1H 2010 |
1H 2009 |
|
| Paying Agents (as at June 30th) |
41% |
871 |
619 |
271 |
| Unique Visitors (June) |
75% |
449,582 |
257,135 |
195,268 |
| Listings (June) |
102% |
188,963 |
93,331 |
66,472 |
Outlook
Having established a strong position in each of Malaysia, Hong Kong and Singapore, the focus for the Group for the remainder of 2011 is to continue to build agent penetration, listings content, website traffic and leads to advertisers. The business will continue to be aggressive in pursuit of these goals as we invest in our human capital and the long term benefit of effective and efficient sales and marketing execution.
At the same time the business will continue to be focused on the development of innovative solutions for its customers and providing consumers using the iProperty Group network of property portals with the best possible experience when searching for property.
With the completion of the acquisitions in Indonesia there will be a clear focus on rapidly growing the agent subscriber base, engaging property developers across Indonesia and increasing the consumer traffic to the website. This will be aided by the experience that the business has had in the growth of its existing core markets and the depth of experience that exists in the senior management team.
—–END—-
*Source: Google analytics, iProperty Group Internal statistics
For more information please contact:
| Shaun Di GregorioChief Executive Officer
iProperty Group Limited Mobile: +60 17207 6221 Email: [email protected] |
Nick GeddesCompany SecretaryiProperty Group Ltd
Tel +61 2 9329 0277 Fax +61 2 9233 4497 Email: [email protected]
|
About iProperty Group Limited (www.iproperty-group.com)
Listed on the Australian Securities Exchange, iProperty Group formerly known as IPGA Limited (ASX: IPP) owns Asia’s leading network of property websites under the iProperty.com umbrella brand. The Company is focused on developing and operating Internet-based real estate portals with other complementary offerings in Asian markets. It currently operates consumer and business online property portals in the markets of Singapore, Malaysia , Hong Kong, and Indonesia with investments in India and the Philippines. With further expansion planned, IPGA is continuously working to capitalise on its market-leading positions and the rapidly growing online property advertising market throughout the region.
iProperty Group Limited Network of websites:
Malaysia: iProperty.com Malaysia
Singapore: iProperty.com Singapore
Hong Kong: GoHome.com.hk and House18.com
Indonesia: rumah123.com and rumahdanproperti.com
India: iProperty.com India
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com