July 26th, 2013
iCar Asia Limited (ASX:ICQ), owner of ASEAN's number 1 network of automotive portals today released its latest quarterly Appendix 4C, showing developing growth of its businesses. Cash receipts from customers for the period amounted to $0.253m, up 278% on Q1 2013, while net operating cash outflow of $1.303m, an increase of 11.9% on Q1 2013 of $1.164m, was the result of continued investment in the building of market-leading teams, products and marketing initiatives.
Key operating metrics also performed strongly through the period. In Malaysia, market leadership continued to grow and the monthly audience of carlist.my and livelifedrive.com, reached 1.1m Unique Viewers, increasing 17% on Q1, with over 121,000 cars now listed for sale up a further 12% on previous quarter.
In Thailand, Thaicar.com has grown listings rapidly since coming under the control of iCar Asia, moving from 23,000 to a market-leading 57,000 cars within the period, growth of 247%.
Mobil123.com in Indonesia has also experienced strong growth, breaking through 150,000 cars for sale, up from 120,000 at the end of Q1 a 25% increase. Traffic is also growing by more than 176% over the quarter as it continues to consolidate its leadership position in the market.
Leads delivered to dealers also displayed strong growth in line with the growth in other metrics, increasing by over 157% across the group through the period.
Mr Damon Rielly, CEO of iCar Asia, said “We have been hard at work over the last quarter growing our business across all three countries organically and we are producing encouraging results. I’m delighted with our progress to date and feel very confident we are on track to deliver our business vision of becoming ASEAN’s leading and most trusted digital automotive marketplace.”
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About iCar Asia Limited (www.icarasia.com)Listed on the Australia Securities Exchange, iCar Asia (ASX: ICQ) owns and operates ASEAN’s No.1 network of automotive portals. Headquartered in Kuala Lumpur, Malaysia, the company is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand. iCar Asia is continuously working to capitalize on its market-leading positions, with its online properties currently reaching over 11 million car buyers and sellers in the region.
iCar Asia Group Network of websites: