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iProperty Group: Strong Performance Delivers Continued Revenue Growth
 
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iProperty Group: Strong Performance Delivers Continued Revenue Growth
Feb 27, 2013
iProperty Group Ltd (ASX: IPP) the owner of Asia’s No. 1 network of property portal sites under the iProperty brand (www.iproperty.com) in Malaysia, Hong Kong and Macau, Indonesia and Singapore today announced total income of more than AUD18 million for 2012 with revenue from continuing operations of AUD15.5 million – an increase of 30% over 2011. The result further consolidates the Group’s leadership position in the region and its ability to capture the movement of advertising spend from traditional media to the internet.

AUD Millions

YOY Growth

2012

2011

2010

2009

Revenues from Continuing Operations

30%

15.5

12.0

7.2

4.0

NPAT from Continuing Operations

(46%)

(2.9)

(2.0)

(2.5)

(1.9)


Underlying the strong result for 2012 was the continued strong growth in key metrics. At a Group level the business achieved record results in user engagement and customer growth:

Key Operating Metrics

YOY Growth

2013 Jan

2012 Jan

2011 Jan

2010 Jan

Unique visitors*

40%

3,912,836

2,803,931

1,651,512

986,317

Paying Agents

25%

22,089

17,706

12,094

6,956

Property Listings

32%

869,877

658,764

379,710

220,267

Page Views*

36%

58,308,460

42,751,090

29,555,374

20,743,053

Consumer Subscribers

46%

751,097

515,452

378,021

196,059

*for the month of January 2013

iProperty Group Chief Executive, Shaun Di Gregorio, commented “The iProperty Group has had another year of impressive achievements in 2012 and continued to build leadership positions in key markets across the region, consistent with our Group strategy.”

“In Malaysia we have extended our leadership position to our next competitor with a record number of consumers visiting our flagship website ‘iProperty.com.my’ and a record number of agents subscribing to our service. Even more pleasingly we have continued to penetrate the property developer advertising market
a key to our future growth and our increased profitability in Malaysia despite a slowdown in sales volume of new properties in the later part of 2012.”

“In Indonesia, a market with enormous potential, we have grown at a rapid rate with ‘rumah123.com’ achieving market leadership early in 2012 and extending our leadership position to the next competitor throughout the year. This was underpinned by record growth in all key metrics with more agents subscribing to our service, more property listings than our competitors and a record number of consumers visiting our website. Most importantly the gap to our nearest competitor has widened. The Indonesia business has also successfully penetrated the property developer advertising market signing cooperative agreements with key industry representative bodies during 2012.”

“In Hong Kong our market leading portal ‘GoHome.com.hk’ has consolidated and extended its leadership position driven by a record number of consumers visiting our website. We have also signed significant deals with key agency franchise groups – a major breakthrough for the business. A strategic milestone for ‘GoHome.com.hk’ in 2012 was the signing of advertising agreements with major property developers in Hong Kong. These results were achieved in an environment where continued Government intervention in the property market has slowed the volume of property transactions.”

“In Singapore we continue the re-make of our leading property portal, ‘iProperty.com.sg’ with a major focus on leveraging our regional strength in targeting the property developer advertiser market. Under the leadership of our new General Manager, Sean Tan, we have made significant progress toward this goal and with a solid base now in place we look forward to 2013. Like Hong Kong, the Singapore market has seen continued Government intervention in the property market aimed at reducing price inflation and the volume of property transactions.”

New Senior Management

A focus for the Group has been the continued strengthening of its Senior Management team. Through the course of 2012 several senior appointments were made adding experience, leadership and world class skills and capabilities, creating an outstanding platform for future growth. The appointments included:

• Paul Whiteway, formerly of Yahoo!, as Chief Operating Officer
• Rob Goss, formerly of ANZ Banking Group, as Chief Financial Officer
• Becky Leng, formerly of SingTel International Group, as Chief Marketing Officer
• Sean Tan, formerly of SingTel Digital Media, as General Manager of Singapore
• Andy Roberts, formerly of Lexicon Press, as General Manager of Indonesia
• Ben Chien, formerly of Yahoo!, as General Manager of CommercialAsia.com

Outlook

The iProperty Group remains focused on its key objectives of strong revenue growth through superior operational execution and opportunistic acquisitions. The continued regeneration of the Management team and a clear growth strategy in each market has the Group well positioned for the future. With leading positions in key markets across Asia, the Group will continue to focus on providing innovative advertising solutions to property developers and property agents. In concert with this is the Group’s commitment to provide consumers searching for property with the best possible user experience, driven by innovation with a ‘mobile first’ focus.
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