The ASX-listed property technology company PropTech Group (PTG) has released its report on Q4 activities of the Australian financial year. Highlights of PTG's operations for the three months ending June 30th include:
Also pleasing for the company was the growth in Average Revenue Per Agent which rose to A$267, an increase of 27% on the corresponding period.
Commenting on the results, Group CEO and Managing Director, Joe Hanna said:
"The Fourth Quarter’s strong financials demonstrate the continued strong growth of the PropTech Group. We have delivered an annual growth in cash receipts of 74% to $21.4m for the full 2022 financial year. In addition, our net cash flow from operations for the full year increased by 136% over the full 2021 financial year."
"This Quarter was also important for the PropTech Group because of the earlier-announced strengthening of the management team. The moves will more tightly knit together our subsidiary businesses, and we expect to see positive results from the changes beginning in the upcoming Quarter."
The PropTech group is a leading provider of CRM software for agents in its native Australia as well as in New Zealand and The United Kingdom. Since acquiring MyDesktop from Domain and relisting on the ASX in 2020, the company has expanded its suite of products and now offers agents the VaultRE and Eagle CRM systems as well as website development and servicing platform Website Blue, which the company acquired in 2021.