Leading French property portal seloger.com has finished 2009 with increases in revenue and net profit in line with the top range of its targets.
Revenue for the full year 2009 reached €73 million, up 1.9 percent from €71.7 for 2008. Net profit was up 3.9 percent to an annual total of €17.7 million, compared to €17.0 million in 2008.
According to businessweek.com, seloger.com plans to pay a dividend of 33 cents per share. Its stock was up 1.7 percent to €25.20 after the financial results were announced.
In its results statement, seloger.com points out that French real estate agents were hit hard by the global financial crisis, with the number of agency branches down 17 percent compared to 2006. The portal says its penetration rate now stands at 61 percent of the domestic market.
seloger.com goes on to state that it believes it can achieve double-digit growth in terms of activity and profitability in 2010. The portal forecasts a sales figure ranging between €81 million and €84 million, leading to an EBITDA of between €42 million and €44 million for this year.