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. 

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.