(PRWEB) February 27, 2013
iProperty Group Ltd (ASX: IPP) the owner of Asia’s No. 1 network of property portal sites under the iProperty brand (http://www.iproperty.com.my) in Malaysia, Hong Kong and Macau, Indonesia and Singapore today announced total income of more than AUD18 million for 2012 with revenue from continuing operations of AUD15.5 million– an increase of 30% over 2011. The result further consolidates the Group’s leadership position in the region and its ability to capture the movement of advertising spend from traditional media to the internet.
iProperty Group Chief Executive, Shaun Di Gregorio, commented “The iProperty Group has had another year of impressive achievements in 2012 and continued to build leadership positions in key markets across the region, consistent with our Group strategy.”
“In Malaysia we have extended our leadership position to our next competitor with a record number of consumers visiting our flagship website ‘iProperty.com.my’ and a record number of agents subscribing to our service. Even more pleasingly we have continued to penetrate the property developer advertising market- a key to our future growth and our increased profitability in Malaysia-despite a slowdown in sales volume of new properties in the later part of 2012.”
“In Indonesia, a market with enormous potential, we have grown at a rapid rate with ‘rumah123.com’ achieving market leadership early in 2012 and extending our leadership position to the next competitor throughout the year. This was underpinned by record growth in all key metrics with more agents subscribing to our service, more property listings than our competitors and a record number of consumers visiting our website. Most importantly the gap to our nearest competitor has widened. The Indonesia business has also successfully penetrated the property developer advertising market signing cooperative agreements with key industry representative bodies during 2012.”
“In Hong Kong our market leading portal ‘GoHome.com.hk’ has consolidated and extended its leadership position driven by a record number of consumers visiting our website. We have also signed significant deals with key agency franchise groups – a major breakthrough for the business. A strategic milestone for ‘GoHome.com.hk’ in 2012 was the signing of advertising agreements with major property developers in Hong Kong. These results were achieved in an environment where continued Government intervention in the property market has slowed the volume of property transactions.”
“In Singapore we continue the re-make of our leading property portal, ‘iProperty.com.sg’ with a major focus on leveraging our regional strength in targeting the property developer advertiser market. Under the leadership of our new General Manager, Sean Tan, we have made significant progress toward this goal and with a solid base now in place we look forward to 2013. Like Hong Kong, the Singapore market has seen continued Government intervention in the property market aimed at reducing price inflation and the volume of property transactions.”
New Senior Management
A focus for the Group has been the continued strengthening of its Senior Management team. Through the course of 2012 several senior appointments were made adding experience, leadership and world class skills and capabilities, creating an outstanding platform for future growth. The appointments included:
The iProperty Group remains focused on its key objectives of strong revenue growth through superior operational execution and opportunistic acquisitions. The continued regeneration of the Management team and a clear growth strategy in each market has the Group well positioned for the future. With leading positions in key markets across Asia, the Group will continue to focus on providing innovative advertising solutions to property developers and property agents. In concert with this is the Group’s commitment to provide consumers searching for property with the best possible user experience, driven by innovation with a ‘mobile first’ focus.
About iProperty Group Limited (http://www.iproperty-group.com)
Listed on the Australian Securities Exchange, the iProperty Group (ASX:IPP) owns and operates Asia’s No.1 network of property websites under the iProperty.com umbrella brand.
Headquartered in Kuala Lumpur, Malaysia, the Company is focused on developing and operating leading property portals with other complementary offerings in Asian markets. It currently operates market leading property portals in Malaysia, Hong Kong, Macau, Indonesia and Singapore, and has investments in India and Philippines. With further expansion planned, the iProperty Group is continuously working to capitalise on its market-leading positions and the rapidly growing online property advertising market throughout the region.
Along with 18 property websites across the region, the Group’s portfolio also includes the first comprehensive regional commercial property website, CommercialAsia.com, as well as a regional property exhibition business and monthly property magazines in Malaysia and Indonesia.
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