REA 1.16% $76.88 rea group ltd

Net profit of $94.7 million, up 34%

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    ASX Announcement
    5 February 2015
    Customer focus delivers strong interim results for REA Group
    Financial highlights from core operations1 include:
     Revenue of $261.5 million, up 25%
     EBITDA of $144.5 million, up 35%
     Net profit of $94.7 million, up 34%
     Interim dividend of 29.5 cents, up 34%
     EPS of 71.8 cents, up 34%
     Australian agent numbers up 5%
    REA Group Limited (ASX:REA) today announced its results for the half-year ended 31 December 2014. Financial highlights from core operations1 include Group revenue increased by 25% on the prior half-year to $261.5m, EBITDA grew by 35% to $144.5m and Net Profit rose 34% to $94.7m.
    The reported Net Profit (as outlined in Appendix I) of $126.4m (up 79%) includes profits from the sale of marketable securities and the Squarefoot business and the share of losses from associates2.
    REA Group Chief Executive Officer, Tracey Fellows said the results reflect the Group’s focus on strengthening agent relationships and the continued success of its product strategy. At the same time, we have expanded our future growth pipeline with strategic investments in Asia and the United States.”
    “Our increased focus on agents as well as our new market based pricing model delivered a strong performance in our Australian business this half. We are particularly pleased with the growth in our agent numbers and an overall increase in our agent satisfaction ratings. We have extended our lead over our nearest competitor in both number of site visits and time spent on site. Significantly, over two thirds of our audience do not visit our nearest competitor’s site.”
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