This article is from the Australian Property Journal archive
ASX-listed realtors The Agency has posted strong year-on-year revenues and commissions in the March quarter, as it opened new locations in Manly, Toowoomba and Canberra.
Combined group revenue lifted 26% to $18.8 million and gross commission income by 27% to $25.4 million during the period, as the number of properties sold jumped 15% to 1,421 and the value of properties sold by 17% to $1.4 billion.
Operational cash flow was $1.0 million for the period, taking the financial year-to-date figure to $3.4 million, and cash balance is nearly $8.0 million.
Agent numbers have lifted from 308 to 367 over the nine months.
The company invested $385,000 in the redevelopment of its Neutral Bay and Claremont hub locations during the quarter.
