Automotive portal iCarAsia.com reported that year to date 2016 cash collections were up 20% on the prior year, totaling $7.45 million.
The company finished Q2 of FY16 with $27.08 million in cash and cash equivalents.
“In 2016 iCar Asia focused on ensuring marketplace vibrancy continued to increase, delivering more value to our customers. The company delivered strong year on year growth in audience to our automotive portals and more leads to our customers. As a result, in a challenging market, the company grew cash receipts at 20% year on year,” said CEO Hamish Stone in a press release.