Mitula Group (MUA) has been added to the All Ordinaries Index effective close of trade March 18 as a result of the S&P Dow Jones Indices' March quarterly review.
The global classified ads platform had a strong results in the last quarter, with a 92 per cent increase in revenue to 22.6 million and a 79 per cent increase in EBITA to $9.5 million.
Advertisers increased 15.3 percent to 13,705 while listings increased 24.5 per cent to 263 million.
Visits increased nearly 30 per cent to 60.3 million per month while click pouts increased 24.2 per cent to 93 million.
In addition the group acquired Nuroa Internet on March 1 for 3 million Euro, adding 12 real estate vertical sites operating in the same markets as Mitula.
Nuroa has 3.4 million visits per month with 6.5 million click outs. The company is expected to earn AUD $1.2 to $1.4 million in 2016 with a 35-40 per cent EBITA margin.
Mitula Group CEO and Founder Gonzalo del Poza says the addition of Mitula to the All Ordinaries Index is very positive for the company.
“This is the way to go for Mitula. It means our shareholders can see the evolution of their share and we hope to emerge into one of the ASX Top 300 very soon,” del Poza says.
Board Director and early investor Simon Baker adds, “It is exciting to see the Mitula Group join the All Ordinaries Index. It is recognition of the company’s strong growth and the value it is providing its shareholders."
The Group closed March 10 trade with a share price of $1.025 after a 52 week high earlier in the week of $1.2