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.