RP Data issues profit guidance

Strong analytics and data subscription boost revenues for the listed information service provider

ASX-listed RP Data Ltd (ASX: RPX), has issued a profit guidance signalling a preliminary net profit before tax of $5.3 million for the six months to December 31 2009.

The commercial and residential property information service provider said in an ASX statement that the result represented a 24 per cent increase on the previous corresponding period.

A net profit after tax of $3.8 million was also expected – a 19 per cent increase over the previous corresponding period.

Revenue is expected to be $28.2 million – a 14 per cent increase over the previous corresponding period.

RP Data managing director Graham Mirabito said in the statement that strong analytics and data subscription revenues were behind the improved performance.

EBITDA was up to 35 per cent over 33 percent in the previous corresponding period.

The group will announce its formal results on Friday 26 February.

RP Data's customers include 9000 real estate agents, values, property developers, financial institutions and government agencies.

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