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 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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.