PHOTO: Domain

Domain has experienced a doubling in the decline of new web listings as its annual net profit fell 29 percent.

Nationally, Domain new listings declined around 12 percent, double the 6 percent decline reported in the first half result.

The real estate website lost $6.2 million last year.

It said revenue for the year to June 30 rose by almost 20 per cent to $343.3 million but the bottom line was hit by previously announced impairments of $179 million.

The yearly results show revenue was down 6.1 per cent. The net profit after tax was $37.4 million, down 29.3 per cent.

Chief executive Jason Pellegrino said it was a solid performance in the context of major listing declines in Melbourne and Sydney.

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