News and Announcements
Real Estate Investar Cash Receipts Up By 27% to $1.3m
- Published August 10, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Real Estate Investar Group Limited (ASX:REV), a leading provider of data driven investment property analysis, tracking and transaction services to Australian and New Zealand property investors, has released information in regards for the last 3 months to 30 June 2017.
KEY TAKEAWAY:
- Cash receipts from customers grew to $1.3m, a 27% increase over the PCP
- Positive cash flows of $0.1m from operating activities, a $0.6m improvement over the PCP
- Reduced operating expense in Q4 following organisational restructure which captured $0.7m in annual cost reductions
- Cash at end of quarter of $0.6m
- Commission based sales team expanded to accelerate the sale of Premium Memberships and investment grade properties
- Progressive profiling of 258k members has now generated 4.9m data points to drive better matching of investment grade properties to qualified purchasers.
Clint Greaves, CEO of Real Estate Investar commented: “The last quarter provided a record level of cash receipts from customers helping the REV Group achieve a positive net operating cash flow position for the first time.
“During the quarter, the Company grew its commission based Premium Membership and investment property sales team with agents in both Australia and New Zealand. Engagement with members is up significantly with a focus on gaining a deeper understanding of our existing free member base so that we can align our Premium Membership offering to the right customers at the right time. This includes additional call based activity, live events and webinars in addition to the platform based profiling that has now generated almost 5 million data points that can be used to match high value members to investment grade properties.
“We continue to refine our Premium Membership and Property sales model and it is now being rolled out more aggressively with additional sales people being added each month. We are looking forward to a strong start to FY 2018, primarily built on revenues from commissions associated with the direct sale of investment property.”
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