Ann: June 2018 Quarterly Report and Appendix 4C, page-4

Just what I thought... organic traffic not going anywhere. Up a measly 5% in Mexico and going backwards in Ecuador. FIFA and presidential elections are also rubbish excuses. For an early stage growth company, things like this should not send organic traffic growth backwards.

"Organic traffic growth During the second quarter, organic traffic growth (SEO & Direct) increased 5% versus pcp in Mexico and -11% in Ecuador, lower than the previous quarter due to various factors including the FIFA world cup and presidential elections in June, however has since rebounded on an upward trend since the end of June."

They were willing to update the market about growth in cross sales which is fantastic, but not on traffic growth... because there hasn't been any.

LAA really need to lift their game because in the long run, you can't continue to increase cross selling when there is no growing traffic growth to cross sell into.

Improvement in cross sales is enough for me to hold on for now, since it gives them a bit more headroom with the cash problem, but if they aren't able to get organic traffic growth back on track I'll be out by the end of next quarter. I just hope it won't be too late.