REA Group show double digit growth

Company News

by Rachael Jones

REA Group (ASX:REA) have announced their results for the year to date showing growth in revenue and EBITDA.

Group financial highlights for the nine months ending 31 March 2018 include revenue growth of 20 per cent to $592m and EBITDA growth from core operations of 21 per cent to $345m.

Earlier this month the digital advertising business specialising in property announced that realestate.com.au entered into an agreement to acquire 100 per cent of Hometrack Australia subject to ACCC approval.

Hometrack Australia is a provider of property data services to the financial sector. The purchase consideration of $130m will be funded from existing cash reserves and debt of $70m.

Shares in REA Group (ASX:REA) closed up yesterday 0.81 per cent to $84.30.