iProperty shares are soaring on an updated profit guidance

Shophouses in Singapore. Picture: Getty Images

Shares in iProperty, the Asia property portal group, took off on an increase in guidance for earnings and sales.

CEO Georg Chmiel said he was extremely happy with the performance of the business over the first five months of 2015, with a strong outlook for the rest of the year.

“Our profitable Malaysian, Thailand and Hong Kong operations are going from strength to strength, and Indonesia is further extending its lead over the competition,” he said.

The company now expects revenues of between $32.5 million and $36 million (formerly $30 million to $36 million) and EBITDA of $3 million to $6 million (formerly $2 million to $5 million).

Its shares are up almost 10% to $2.48.

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