REA revenues up 20% pushing real estate site to post $214.5m profit
Classified real estate website REA Group has posted a full year profit of $214.5m, a result 16% up on last year.
The strong result came on the back of a 20% growth in revenue, with the company recording revenue of $629.8m while the company’s earning before interest, tax, depreciation and amortisation (EBITDA) was up 22% to $347.3m.
REA group CEO, Tracey Fellows, singled out its international expansion as a key factor in the growth: “This year, we’ve continued to see strong results with 20% revenue growth and a 22% increase in EBITDA.
“This year was (also) marked by global expansion with our acquisition of iProperty Group giving us a foothold in South East Asia and extending our operations, which now span four continents. We also launched the global property network giving consumers access to more than three million listings from 56 countries.
“We have also further cemented our leadership position in Australia on the back of record audience engagement. This is particularly pleasing given residential listing volumes were lower in the second half.”
REA declared a final dividend of 45.5 cents per share.
