Last week, REA Group announced its results for the half year ended 31 December 2016.
Financial Highlights, despite lower total listing volumes overall, include:
- Revenue growth of 16%
- An increase in EBITDA of 13%
- Interim dividend of 40 cents per share, up 11%
The revenue growth is attributed to a 13% increase in the Australian residential business, plus inclusion of iProperty revenue, which was not included in the prior period.
REA Group Chief Executive Officer Tracey Fellows commented: “We’ve been able to deliver strong revenue growth in spite of lower listing volumes. We’ve done this through the success of our premium listing products and through innovations across the business.”
Highlights from the Half year include investment in Proptiger in India, the partnership with NAB, the sale of European operations and the first VR property app in Australia.
