REA Group has reported its net profit rose 23% to $279.9m

Company News

by Rachael Jones

REA Group (ASX:REA) has reported its net profit rose 23 per cent to $279.9m for the year ending 30 June 2018.

In more good news for the company its revenue strengthened over the 2017 financial year, and lifted 20 per cent to $807.7 million.

Its earnings before interest and tax depreciation and amortization (EBITDA) increased over 22 per cent on the prior year to $$463.7 million.

The company declared full year dividend of $1.09 cents per share, up 20 per cent.

This is driven by an increase in residential revenue and financial services for the digital advertising business.

Shares in REA Group (ASX:REA) is trading 1.71 per cent higher to $83.72.