A look at the Gumtree Group landing page (Source: File)
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  • The Market Ltd has posted revenue growth of +45% vs 1HFY23 
  • Total revenues climbed to $47M vs $32.4M in the previous financial year 
  • The company ended the period with $8.9M cash 
  • Shares last traded at 27c 

The Market Limited (ASX:MKT) has posted its half yearly results, clocking 45% revenue growth vs 1HFY23 to $47M.

The company’s impressive revenue boost was driven by the acquisition of Gumtree Group in 2022. 

Gumtree – a staple favourite marketplace of the Australian internet landscape – also includes Carsguide and Autotrader Australia. 

Together, the Group’s acquisition allowed for the repayment of $5M of a CBA loan.

“The importance of the Gumtree Group to The Market Limited is evident … both Carsguide and Autotrader have leading positions in the segments they operate in,” the company reported.

“In the last 6 months we have launched our first transactional offerings, with the roll-out of our Instant Cash Offer solution to sell cars privately being a highlight.”

The company did have to swallow $0.8M in legal costs related to a legal stoush stemming from the days of former management, and, a downgrade in the value of the Canadian business.

But The Market Limited has revenue growth tracking strongly, even ahead of the US Federal Reserve cuts tipped for H2CY24. 

MKT by the numbers
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