iProperty Group Ltd, the owner of a significant network of property portal sites under the iProperty brand operating in S.E Asia, today released its 4C statement demonstrating the ongoing growth of the business. Cash receipts for the period amounted to $4.8m, up 11% from the first Quarter and from the comparable period in the prior year. Financial results for the half-year ended 30th June 2013 are expected to be in line with those of the prior corresponding period, when they are released on 29th August.
Key operating metrics continue to improve but the Group faced difficult trading conditions in a number of markets. In both Singapore and Hong Kong government cooling measures were successful in dampening the level of activity in both these countries, whilst in Malaysia the uncertainty around the general election in April resulted in a significant drop in the level of advertising spend. In addition the Group continued to invest marketing spend in Indonesia to cement the company's position as the number one property portal in the country. Changes to the Group’s expo calendar have also resulted in revenue being pushed into the second half relative to the prior comparable period.
Directors currently expect a significantly improved 2nd half 2013 result that is an improvement on both the prior comparable period and first half 2013.
iProperty Group CEO, Shaun Di Gregorio commented, “We are pleased with the encouraging growth in key metrics which shows that our websites are increasingly popular with consumers and effective in generating a record number of leads for our advertisers. This confirms the business is on track for continued growth in spite of the macro headwinds which the Group faced int the first half of 2013.”
“The Group looks forward to further growth in the second half on the back of a series of new products and enhancements (already released), combined with staffing efficiencies and strong sales in the first half which are yet to flow into revenue,” said Di Gregorio.
A further update will be provided in conjunction with the lodgment of the company's half year results on the 29th of August, 2013.
The iProperty Q4 statement can be accessed in its entirety by clicking here.
Delving a little deeper into this media release to the Australian Stock exchange highlights some interesting data in the KPI's
In the Quarter 2 period iProperty set new records for total listings breaking through 1 million up from around 800,000 a year ago, equally total unique visitors exceeded 4 million up from around 3 million a year ago.
However a metric that is of greater interest is Page Impressions per unique visitor - this fell by 10% from 16.7 to 15. This metric is critical in regard to defining customer engagement as unique visitors can be attained through marketing campaigns that drive reach but for a site to offer long term value and retain loyalty requires engagement measured through time-on-site and page impressions per visit.