Since listing on the Australian Securities Exchange (ASX) in August 2016, Frontier Digital Ventures Ltd (ASX: FDV) has delivered record half-year revenue performances and consistent operational and financial growth, the company reported.

FDV operates and invests in online classified businesses in underdeveloped, emerging countries or regions.

FDV reported an 85-percent rise in revenue to $7.8 million U.S. in H1 of FY2017 from $4.2 million U.S. in H1 of FY2016 on a 100-percent basis (table below). As expected, the share price climbed 44 percent from $0.50 AUD at IPO in August last year to $0.72 AUD at the close on Aug. 25.

This performance was achieved against a backdrop of other ASX peer companies with negative returns during the same period — resulting in an average share-price decline of 56 percent for Freelancer, LatAm Autos and Mitula Group taken together. (Data from Frontier DV.)

Frontier Digital Ventures’ revenue gains in the 12 months to June 30, 2017.

Total portfolio revenue reached $10.9 million AUD in H1 of FY2017, on a 100-percent basis, up 85 percent from H1 of FY2016. Frontier’s economic share of revenue reached $3.6 million AUD in H1. All but one of its 17 portfolio companies grew revenue in H1, the company said. A number of FDV’s larger investments are targeting cash flow breakeven in the near term, having grown key operational metrics, such as sessions, leads and listings organically and with minimal marketing spending.

During the period, FDV added three portfolio companies to its list of companies which are profitable, bringing the total to nine.

In June, Frontier acquired interests in two Southeast Asian online classified sites, namely AutoDeal, a new-car sales company in the Philippines, and Propzy, a transaction-focused classified business in Vietnam. The investments increase Frontier’s exposure to the booming Southeast Asian market and the significant populations of the Philippines (100 million) and Vietnam (92 million). –