Onthehouse expects 1H12 ebitda of $3.3m

Real estate website operator Onthehouse Holdings (ASX:OTH) expects to meet its earnings targets for 1H12 and the full financial year

Onthehouse Holdings (ASX:OTH) has revealed it expects to have met its revenue target of $9.6 million in 1H12.

The company, which operates a network of real estate websites including onthehouse.com.au, has also revealed it expects to report a 1H12 underlying ebitda of $3.3 million.

Onthehouse will report its 1H12 results on February 27.

On the strength of the estimates, the company has maintained its forecast of an FY12 ebitda of $8 million, on revenue of $20.8 million.

Onthehouse first made the forecast in its prospectus during its IPO last year. The company was added to the ASX list in June, and in July confirmed its guidance for FY11 and FY12.

For FY11, the company reported a net loss of $1.8 million, an ebitda loss of $1.5 million and statutory revenue of $1.5 million.

But in its latest guidance, the company said monetisation of the onthehouse.com.au platform has begun.

The 1H12 results will include a full six months' contribution from last financial years' takeover targets Console and PortPlus, which provide accounting, property and sales management software.

OTH shares climbed 13.75 per cent on Tuesday to $0.455 after the announcement was made.

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