News and Announcements
Real Estate Investar Delivers Strong Year on Year Growth – Surpasses Prospectus Forecast
- Published September 02, 2016 1:05PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
31st August 2016, ASX Announcement
Highlights of FY 2016 include:
- Revenue grew by 34.4% year on year to $5.4 million;
- Adjusted EBITDA improved from a loss of $773k in FY 2015 to a loss of $543k in FY 2016;
- Adjusted NPAT improved from a loss of $2.1 million in FY 2015 to a loss of $1.0 million in FY 2016;
- Real Estate Investar surpassed its 16 November 2015 Prospectus forecast for revenues, EBITDA and NPAT;
- Membership growth was 48.0% year on year with 202.423 members as to 30 June 2016;
- The Company completed the sale of 52 properties to members during the year with the majority completed in June 2016; and
- The Company acquired The Property Factory and signed partnership agreements with Domain Group and one of its subsidiaries APM Pricefinder.
Real Estate Investar Group Limited (“REV Group” or “Company“) (ASX:REV), a leading provider of online services to Australian and New Zealand property investors, has released its Appendix 4E Preliminary Final Report for the 12 months ended 30 June 2016.
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