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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.