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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.