The Mitula Group, which was founded in Spain and is listed on the Australian Stock Exchange, reported record revenue and traffic in the first quarter of 2018.

The Mitula Group’s sites include global multi-vertical aggregator Mitula.com, property portals Nestoria.com, Nuroa.com and DotProperty.com, and fashion brands Kleding.nl and Fashiola.com.

The company enjoyed a more than 17 percent increase in first-quarter revenue compared to the same period in 2017. According to a press statement, it earned $9.3 million AUD ($7.2 million U.S.). In March 2018, it achieved record monthly revenue of $3.5 million AUD ($2.7 million U.S.), a 30 percent increase versus March 2017.

In the release, the company highlighted the progress of its “Closer to the Transaction” strategy, noting that 24.2 percent of the quarter’s revenue was generated from advertising and transaction-based products. The remaining 75.8 percent of revenue was generated by traditional click-based products.

Increased visitor numbers also drove revenue with a record 223 million visits to the Group’s sites in the quarter, representing 8.8 percent growth versus Q1 of the previous year. March’s record revenue was based on record traffic, with 80.8 million visitors, an almost 28 percent rise from March 2017.

Graph via Mitula Group

In the statement, CEO Gonzalo del Pozo (LinkedIn profile) said: “The strong growth in revenue is a result of the continued implementation of the Company’s ‘Closer to the Transaction’ strategy whereby we are focusing on extracting more value from each visit rather than just relying on increasing the number of visits. This can be seen with 24.2 percent of revenue now being generated by advertising and transaction-based products and services.”

These financial results should assuage the concerns of investors who saw Mitula Group’s shares drop in February following a moderate adjustment to their earnings forecast. In its Feb. 12 trading update it announced it expected year on year revenue growth of 20 percent. The first quarter figures suggest they are on track to achieve that forecast.

 

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