RP Data announced a net profit after tax $8.103 million up 76% over FY06 and outperforming its prospectus expectations by 3.6%.
The board of RP Data has announced a fully-franked dividend of $0.0175 per share for financial ended June 30 2007.
Chief executive Graham Mirabito said the result shows strong core growth and immediate contributions from successfully integrated acquisitions.
“Our key objectives for FY08 are to grow our core business with commercial and residential real estate agents; expand the related mortgage finance advisor segment; aggressively expand consumer information services; successfully integrate and leverage PPT as our core channel to the mortgage finance institutions; and aggressively expand our customer base for our valuation services products by leveraging
“To support these objectives and secure future revenues, we will significantly increase our investment in data, analytical capabilities and delivery technologies to $9M, up 50% on FY07. This investment will exceed the revenues of most if not all of our competitors, positioning RP Data as the clear leader in the industry.
“With our subscription based revenue model, attractive margins, predictable core earnings growth, growth opportunities and increased investment in data, people and technology, RP Data expects to deliver EBITDA growth at or above 25%,” Mirabito concluded.
RP Data shares jumped 23 cents to finish the day at $1.96.
Australian Property Journal
