The iProperty Group has provided the market with guidance for its expected 2015 results. The guidance for both revenue and EBITDA has been increased based on the ongoing growth of the business exceeding expectations.
In particular, the iProperty Group expects revenues of between AUD 32.5 million and AUD 36 million (up from former guidance of between AUD 30 million and AUD 36 million). It also expects EBITDA to be between AUD 3 million and AUD 6 million (up from former guidance of AUD 2 million to AUD 5 million).
These estimates are based on the performance of the business over the first 5 months of 2015, the current billing levels for the subsequent months, the successful delivery of key projects planned, and the current FX rates. The EBITDA also excludes the amortisation of any share based payments and options.
Georg Chmiel, the CEO of the iProperty Group commented "Our profitable Malaysian, Thailand and HK businesses are going from strength to strength and Indonesia is further extending its lead over the competition. The transition of our Singapore operations into a hub for international projects and project marketing is also progressing well."
Prior to the announcement, shares in the iProperty Group had been at near 12 month lows of AUD 2.20 down from a 12 month high of AUD 3.78. The share market responded positively to the news with shares in the iProperty up 10% to AUD 2.49 at close of business.