Nearmap maps growth for the future

Wilson Asset Management

On Tuesday, aerial mapping business Nearmap Limited (ASX: NEA) announced its first quarter FY17 trading update, showing continued revenue growth in both its Australia and US businesses. Quarterly subscription revenue growth was up 39% to $9.2 million, with the Australian operation reporting organic revenue growth of 32%. The company has seen rapid growth under the leadership of CEO Rob Newman, with the Australian business generating strong cash flow and its recent entry into the US market gaining traction. Shares in Nearmap closed up 25.4% for the week. We own Nearmap as a market-driven investment in WAM Capital and WAM Active.

ASX:NEA ASX:WAM ASX: WAA

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