REA Group profit dives, revenue rises

Company News

by Jessica Amir

Online real estate advertising company REA Group (ASX:REA) announced its reported profit dived 55 per cent in six months to 31 December 2017 to $132.4 million, compared to the prior corresponding period.

Its revenue rose 21 per cent to $406.8 million with real estate agents paying to feature more prominent property adds.

Its reported earnings (EBITDA) lifted by 15 per cent to $230.6 million.

The company’s operating expenses increased, while it also declared a 2018 interim dividend of 47 cent per share full franked, payable on 16 March 2018.

Shares in REA Group (ASX:REA) are trading 1.72 per cent lower at $70.28.

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.