News and Announcements
Real Estate Investar Full Year Statutory Accounts
- Published October 05, 2016 1:38PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
30th Spetmeber 2016, ASX Announcement
Review of operations
FY 2016 delivered strong growth highlighted by a 31.7% growth in revenue and other income. In driving this growth, the Group passed 200,000 members and increased its focus on generating commissions from the sale of investment property. In addition, the Group acquired the assets and business of The Property Factory Ltd and entered into strategic partnership agreements with Domain Group and one of its subsidiaries APM Pricefinder.
Underlying the growth in revenues and other income to $5,297,131 million are KPIs the Group identified in its IPO Prospectus relating to member growth, conversion of members to paying customers, and the transitioning of the business to property sales.
Membership Growth
Members are one of the key drivers of value for the Group’s business. Members are offered a free set of online tools and services to help them analyse and assess investment properties. The Group then monetises these members through paid subscriptions, direct investment property sales, and other ancillary products and services.
From the 30th June 2015 to the 30th June 2016 there was a 48.0% (2015: 33.9%) growth in members
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