Morgans saw a strong result to finish off FY18 for Frontier Digital. Revenues were some 8.6% ahead of the broker's expectations. Real estate portals Zameen (Pakistan) and Infocasas (Latin America) have been singled out as stand-out performers.
The company finished 2017 strongly, with revenue well ahead of Morgans forecasts. Transaction revenue, mostly commission on the sale of new apartments, is expected to drive further double-digit growth in 2018.
The company has optimised its African portfolio of web portals through an assets swap with Jumia, a local player. tthe asset swaps are part of the company strategy to only own the market leader in each country in which it operates.
The company’s update on operations does not affect forecasts in a significant way although Morgans finds there is now more revaluation upside potential in the current portfolio. A greater proportion of the portfolio is now in the monetisation phase.