Ann: Record half year revenue up 82%, page-7

Encuentra24 has been a laggard in revenue growth compared to the rest of the FDV portfolio - averaging 3.4% per quarter over the last two-and-a-bit years, versus 14% on average across all the companies.

The business (after Zameen) I really like the look of is Infocasas, even though FDV owns a smaller proportion of it than Encuentra. It has grown (almost) relentlessly and is now EBITDA-positive.



As always, the next quarter will be interesting. If Zameen's September results are down as recent listing figures seem to indicate, there may be another buying opportunity.