Nearmap announces record 2018 growth

Company News

by Anna Napoli

Aerial mapping firm, Nearmap (ASX:NEA) has announced that results for the 2018 financial year are expected to show record growth.

The company’s annualized Contract Value has exceeded guidance provided at the time of first half year results.

Nearmap says its contract value at the 30th June was $66.2 million, a rise of 41 per cent on a year over year basis.

Meantime, the company’s US portfolio has more than doubled with Nearmap’s US operations growing by 143 per cent.

Shares in Nearmap (ASX:NEA) are trading up 17.04 per cent to $1.30.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.