Nearmap sees H1 FY18 growth

Company News

by Kathy Skantzos

Aerial imagery company Nearmap (ASX:NEA) has reported growth in both its US and Australian markets in the first half of the 2018 financial year.

The annualised contract value of the company’s US portfolio is expected to be US$8.5 million, compared to US$5.3 million in the last half year results, the largest half yearly growth seen in Nearmap’s US operations.

The company’s Australian operations are expected to generate $43.3 million in annualised contract value for H1, compared to $40 million in the previous half year.

The commercial launch of its MapBrowser products is expected in the first quarter of this calendar year, which the company believes will enhance its position in the Australian market.

 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.