iProperty Group Ltd released its 4C statement demonstrating the ongoing strong growth of the business. Cash receipts from operating activities for the period amounted to A$5.9 m, an increase of 62% from the corresponding period in 2012. Furthermore Q3 cash receipts from operating activities were up by 23% when compared with the previous quarter’s result. The growth in cash collections resulted in net operating cash flows of A$(0.18) m for the quarter.
iProperty Group CEO, Shaun Di Gregorio commented “We are very pleased with the strong growth in cash receipts for Q3 and the underlying result in operating cash flows. This continues the trend we saw in Q2 and places us in an excellent position as we head toward the end of 2013. This strong result follows recently adding an additional A$7.0 m to our cash reserves with the disposal of our equity stake in iCar Asia (ASX:ICQ), further strengthening our position”
“We look forward to the continued growth of our businesses across our four core markets and building on the success we’ve had this year. We have a great foundation in place and are now starting to see the benefits of the hard work that’s been done over the last few years.” said Di Gregorio.
About iProperty Group Limited (www.iproperty-group.com)
Listed on the Australian Securities Exchange, the iProperty Group (ASX:IPP) owns and operates Asia’s No.1 network of property websites under the iProperty.com umbrella brand.
Headquartered in Kuala Lumpur, Malaysia, the Company is focused on developing and operating leading property portals with other complementary offerings in Asian markets. It currently operates market leading property portals in Malaysia, Hong Kong, Macau, Indonesia and Singapore, and has investments in India and Philippines. With further expansion planned, the iProperty Group is continuously working to capitalise on its market-leading positions and the rapidly growing online property advertising market throughout the region.
Along with 18 property websites across the region, the Group’s portfolio also includes the first comprehensive regional commercial property website, CommercialAsia.com, as well as a regional property exhibition business and monthly property magazines in Malaysia and Indonesia.
iProperty Group Network of websites: