Mitula Group - Directing Traffic
Edison | Mar 29, 2016 06:20AM ET
Directing traffic
Mitula Group (AX:MUA) is a leading aggregator of online classified listings, operating in the global online advertising market. Its specific growth techniques, together with existing scale and a focus on higher-growth markets, should drive medium-term growth ahead of the sector, we believe. The company listed on ASX in July 2015, raising A$26.52m gross at an offer price of A$0.75/share. Mitula Group is already profitable, has met its prospectus guidance for CY15, is on track to meet its 2016 fiscal year prospectus forecasts, and has made its first post-IPO acquisition, buying Spain-based real estate classifieds aggregator, Nuroa Internet SL for ~€3m (A$4.47m).
Highly experienced leadership team
MUA’s key attribute is its highly experienced leadership team, led by independent chairman Simon Baker, who has several years’ experience building similar businesses in Australia and Asia; in particular REA Group (AX:REA) and iProperty, which REA recently acquired. Similarly, CEO and co-founder Gonzalo del Pozo established Spain’s leading property portal, Globaliza, along with fellow MUA co-founder and director Gonzalo Ortiz.
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