Milestone year for hipages, first as a listed company
Today we published our full year financial results to the ASX for the first time, and we couldn’t be prouder of the team’s achievements. At hipages, we delivered strong growth across all key metrics in FY21 and achieved our upgraded Prospectus forecasts, all while progressing a number of key strategic initiatives.
The results are testament to our team’s commitment to supporting our customers through the challenges COVID-19 presents across Australia, which has further bolstered our market leadership position. During lockdown periods impacting tradies, we’re proud to have introduced a range of initiatives to assist our tradie customers.
We put our trust in the professionalism of our tradie network, underpinned by the great work of our Trust and Quality team, and we want our tradie members to trust that we will support them through difficult times such as these.
Despite the impact of COVID-19 restrictions on job volumes in the market, total job volume grew strongly by 12% in FY21 to 1.53million. Our ongoing investment in brand, product and platform has continued to attract customers on both sides of our marketplace, driving the flywheel effect and delivering strong growth in jobs coming from repeat consumers and unpaid channels.
You may have seen hipages hitting TV screens around the country. We are once again a lead sponsor of the 2021 season of Channel Nine’s TV program The Block, which has proven to be highly successful for hipages’ brand expansion over the past three years. The new season commenced in early August, and has aired at the same time as our new creative campaign, Behind Every Great Home, which celebrates the great Australian partnership between our nation’s tradespeople and homeowners.
Our increased investment in marketing and technology in FY21 has us excited for the future, as we continue our growth journey and further strengthen our market leadership in the on-demand tradie economy. In fact, there’s much opportunity for growth, with research from Publicis Sapient confirming the size of the total addressable market to be over $110billion across the residential and commercial sectors.
Now, we’re focused on meeting our FY22 goals. Bring it on!