The REA Group show net profit up 6% to $295.5 million

Company News

by Rachael Jones

The REA Group (ASX:REA) today announced its results for the year ending 30 June 2019 showing net profit up 6 per cent from the previous year to $295.5 million.

Revenue growth of 8 per cent on the prior year to $874.9 million, and an increase in EBITDA of 8 per cent to $501.2 million.

The Australian market saw significantly lower residential listings and new development project commencements in 2019.

Total residential listings declined 8 per cent for the year, with declines of 18 per cent in Sydney and 11 per cent in Melbourne.

Shares in the REA Group (ASX:REA) closed 0.59 per cent higher at $91.55 yesterday. 

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.