iCar Asia delivers record receipts

Ramping up marketing spend is having the desired effect on revenue. But it means iCar Asia will probably need to come cap in hand to shareholders again.

After the period of declining cash receipts that bedevilled iCar Asia in 2016, the 2017 year has started with a bang. First quarter cash receipts were $2.5m, up 21% on the same quarter last year (or 29% ignoring foreign currency movements, which was of course the figure management preferred to highlight). Chart 1 shows the trend of cash receipts in recent years.

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