iProperty Group Ltd (ASX: IPP), the owner of Asia’s No. 1 network of property portal sites and related real estate services, has increased its revenue and EBITDA guidance for the year based on the ongoing growth of the business.
The company now expects revenues of A$32.5 million to A$36 million, up from the former guidance of A$30 million to A$36 million; and EBITDA of A$3 million to A$6 million, up from the former guidance of A$2 million to A$5 million.
“We are extremely happy with the performance of our business over the first five months of 2015 and the strong outlook for the remainder of the year," said Georg Chmiel, iProperty Group Managing Director and CEO.
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“Our profitable Malaysian, Thailand and Hong Kong operations are going from strength to strength, and Indonesia is further extending its lead over the competition. The transition of our Singapore operations into a hub for international projects and project marketing is also progressing very well.
"As a result of the outstanding performance, we are comfortable to increase our Revenue and EBITDA guidance for the year."