PHOTO: REA Group
- Online real estate advertising company REA Group (REA) has delivered a strong half-year performance update, despite the volatile market conditions
- The company hit $290.2 million in earnings, an increase of nine per cent over the prior corresponding period
- Unfortunately, revenue was down two per cent to $430.4 million
- During the half, realestate.com.au delivered record audience numbers with an average 12.3 million site visitors each month
- Additionally, 13 million users were recorded in November, equating to 65 per cent of Australia’s population
- REA also acquired Realtair and Campaign Agent, now holding 19.9 per cent and 27 per cent, respectively
- As of December 31, the company had a cash balance of $179.9 million and low debt levels
- REA has ended the day 1.62 per cent in the green with shares trading at $157
Online real estate advertising company REA Group (REA) has delivered a strong half-year performance update, despite the volatile market conditions.
The company had earnings before interest, taxes, depreciation and amortisation (EBITDA) of $290.2 million which is up nine per cent over the prior corresponding period (pcp).
Net profit was also up 13 per cent to $172.1 million, as was the interim dividend — up seven per cent to 59 cents per share.
Unfortunately, REA’s revenue was down two
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