World news releases

Alma Media increases digital revenue and profit in Q3

The revenue of Alma Media’s division Digital Consumer Services, which houses the company’s classifieds business*, increased by 10.1 percent in Q3 of FY2014 from Q3 in FY2013. In Q3 of FY2014 revenue of the Digital Consumer Services division amounted to €13.5 million ($17 million U.S.), against €12.3 million in Q3 of FY2013. Of total revenue, the businesses in Finland contributed...

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LatAm’s e-commerce grows nearly a third

m4s0n501 LatAm’s e-commerce grew by 30 percent in the last year, according to e-commerce expert and digital strategist Pedro Labarta. “E-commerce in the main Latin American markets and economies has increased 30 percent last year, as result of a change in the habits of consumers, [who're] believing more in the digital platforms,” Labarta said in an article. According to the...

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Catcha sells down stake in iProperty

Patrick Grove’s Catcha Group has sold down almost 25 percent, or 10,000,000, of its shares in iProperty at $2.63 per share. The announcement was made in an ASX listing dated October 16. Catcha’s Kuala Lumpur-based Rev Asia earlier sold its 27.2 percent stake in iCar Asia. (Read our coverage of that here) Catcha Group runs ASX-listed Southeast Asia and Hong Kong eCommerce business iBuy...

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Newspaper classifieds drag down SPH profits

Singapore’s main newspaper publisher Singapore Press Holdings Limited has reported a drop of 6.2 percent in profit for the year ending 31 August 2014. Full year net profit was SGD$404.3 million (USD$323.36 million). In a statement released 15 October the Group said it was hit by lower profit contribution from its newspaper and magazine business that it attributes to declines in...

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What’s Patrick Grove up to? Catcha offloading iCar Asia, iProperty

Patrick Grove’s Kuala Lumpur-based Rev Asia (formerly Catcha Media) yesterday received shareholder approval to sell its 27.2 percent stake in iCar Asia and, according to Australian press, his Catcha Group is also looking to offload its shares in iProperty. (Read Australia’s Property Observer’s article here.) Rev Asia had announced its intentions to sell its stake in iCar Asia...

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REA sells HK business to iProperty, strengthens shareholder grip

REA Group has sold its Hong Kong business to iProperty Group, in a deal worth AUD$15 million (US$13.5 million). The sale is subject to iProperty shareholder approval. iProperty will operate REA’s squarefoot.com.hk and its own GoHome.com.hk. Squarefoot also has a printed property magazine that iProperty will take over from REA. REA’s stake in iProperty of 17.2 percent, which it bought...

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