The REA Group (ASX:REA) delivers in challenging market conditions

Company News

by Rachael Jones

The REA Group (ASX:REA) today announced its results for the half-year ended 31 December 2019 showing revenue of $440.3 million and EBITDA of $272.1 million.

The company says the result was delivered in continued challenging market conditions with declines in new residential listing volumes and new project commencements.

National residential listings declined 14 per cent, which included listing declines of 17 per cent in Sydney and 16 per cent in Melbourne.

In addition, new project commencements declined 30 per cent over the half-year period.

Shares in the REA Group (ASX:REA) closed 0.77 per cent higher at $113.38 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.