Onthehouse affirms FY11, FY12 guidance

Onthehouse affirms FY11, FY12 guidance

Online real estate platform developer Onthehouse Holdings (ASX:OTH) has maintained its forecast of $16.7 million in FY11 revenue, on the back of strong traffic growth in Q4.

The company confirmed its financial targets for FY11 and FY12, as provided in its prospectus during an IPO earlier this year, based on its performance in the final quarter.

Onthehouse, which was added to the ASX list in June, said its real estate website network grew traffic during the quarter to a record 440,000 visits in June.

The company also provides an office administration, sales and management platform to real estate agencies, and said this division had met its FY11 statutory revenue forecasts.

Onthehouse added that the appointment of The Ad Network as an advertising partner had also helped ensure online ad revenue growth, and as a result the company is close to capacity in short-term display ad bookings.

As a result of these metrics, Onthehouse maintained its forecast of $1.9 million in post-tax profit in FY12, from revenue of $20.8 million.

The company did not give a prospectus profit forecast for FY11, but did predict an ebitda of $4.4 million. FY12 ebitda has meanwhile been pegged at $8 million.

OTH shares stayed flat on Monday at $0.690, which compares to a peak trading price of $0.950 from shortly after last month's listing.

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Tags online advertisingreal estateIPOGuidanceASX:OTHOnthehouse Holdings

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