KUALA LUMPUR, April 8 (Bernama) — iCar Asia Limited (‘iCar Asia’, the ‘Group’ or the ‘Company’), ASEAN’s number 1 network of automotive portals, has published its Appendix 4C for the first quarter of 2019.
Strong cash receipts for Q1 2019 of A$3.8 million
The Company reported that cash collections for the first quarter were A$3.8 million up A$0.8m or 25% versus Q4 2018, the highest ever recorded quarterly cash collection in its history. This was mainly driven by strong account renewals in Thailand and higher collections from Indonesia’s classified business that introduced paid subscription in September 2018. The Group also recorded A$2.6 million in unaudited revenue for the first quarter, an increase of 30% compared to the same period last year.