Mitula Group reports record revenue, profit growth
01 Mar 2017
Mitula Group, the Spanish multi-vertical aggregator listed on the Australian Securities Exchange (ASX), reported record revenue and profit growth in FY2016. According to the company’s annual financial results, revenue grew 36 percent to $28 million AUD ($21 million U.S.) from FY2015.
This paved the way for an after tax profit of $8.2 million AUD ($6.3 million U.S.), which was 215 percent more than in FY2015.
CEO Gonzalo del Pozo said the financial year 2016 was “a very good year for the Mitula Group”.
“We delivered strong growth on all key financial metrics.
“Particularly pleasing was the 216-percent increase in profit after tax, which was driven by strong growth in revenue and an adjusted EBITDA.
“Following the acquisition of [property site] Nuroa in February, and the launch of our fashion vertical and other new sites throughout the year, we now operate 88 vertical search sites across property, employment, motoring and fashion in 50 countries and 19 languages,” he said.
Visits to Mitula Group sites were in excess of 80 million and they generated 125 million click-outs for Mitula’s partners.
Del Pozo also highlighted Mitula Group’s strategic move to “get closer to the transaction” with its acquisition of Southeast Asian property group DotProperty, which operates ten platforms in nine countries.
DotProperty contributed $1.2 million AUD in revenue in the final four months of the year, and the company expects revenue from this source to continue growing.