The REA Group (ASX:REA) report a 14% drop in EBITDA for the first quarter

Company News

by Rachael Jones

Online real estate classifieds company the REA Group (ASX:REA) reported a 14 per cent drop in earnings before interest, tax, depreciation and amortisation (EBITDA) to $114.9 million for the first quarter ending September. 30th.

The Group’s result was delivered in a challenging market with declines in new residential listing volumes and new project commencements.

National listings declined 15 per cent over the three month period, including listing declines of 22 per cent in Sydney and 21 per cent in Melbourne.

Shares in the REA Group (ASX:REA) are trading 3.48 per cent lower at $102.99.

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.