The Courier-Mail

REA lands big gains from real es­tate


REA Group’s full-year profit has jumped 24 per cent to $185.4 mil­lion as Aus­tralia’s lead­ing real es­tate advertisin­g plat­form recorded solid rev­enue growth.

The op­er­a­tor of, the na­tion’s No.1 prop­erty list­ings por­tal, said it con­tin­ued to see sus­tained growth de­spite weaker vol­umes in the broader Aus­tralian prop­erty mar­ket and in­creased com­pe­ti­tion from ri­val web­sites.

Rev­enue leapt 20 per cent to $522.9 mil­lion in the year to June, driven by a “sig­nif­i­cant in­crease” in the takeup of pre­mium list­ing prod­ucts and the in­tro­duc­tion of a new mar­ket­based pric­ing model.

The board de­clared a fully franked fi­nal div­i­dend of 40.5¢ a share, up from 35¢ last year.

REA Group chief Tracey Fel­lows said the busi­ness con­tin­ued to go “from strength to strength” de­spite list­ing vol­umes in the Aus­tralian mar­ket be­ing down 4 per cent.

“We’ve ac­com­plished this by pro­vid­ing our cus­tomers more choice and bet­ter value and by giv­ing the 3.4 mil­lion peo­ple who use our sites monthly an ex­cep­tional ex­pe­ri­ence,” she said. THE AUS­TRALIAN

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