iCar Asia Ltd — Narrowing Loss And Rising Sales

Narrowing loss and rising sales: iCar Asia Ltd (ASX: ICQ) recently reported financials for year-ending December 31, 2015 with group revenue of $6.28 million, an increase of 123% from prior year period. Supported by a strong revenue growth and well managed costs, net loss after taxes were reduced to $12.5 million from $16.7 million in year ago period. EBITDA loss also narrowed down to $11.46 million from $13.19 million. During the month of December alone, 570,000 unique, individual car buyers sent leads to car sellers across Malaysia, Indonesia and Thailand. Cash collections for full year totalled to A$6.20 million, an increase of 113% over 2014. Based on the foregoing, we give a “BUY” recommendation at the current price of $0.925 
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