REA Group Limited (ASX: REA), the owner of realestate.com.au, today released its half-year report to the market.
In an ASX announcement, REA Group reported 8% growth in revenue to $314.8 million and a net profit of $114.9 million, down 9% on the prior corresponding period. If we exclude other income, gains on the sale of securities or businesses and losses from associates, we arrive at the figure REA Group reports as 'Core Operations'. REA Group's core net profit result was up 28%.
"Our results show strong revenue performance with 20% growth in the first half," REA Group CEO, Tracey Fellows, said. "Our audience continues to grow as we innovate and deliver even better experiences for consumers."
Average monthly visits to realestate.com.au rose 27% to 42 million. Indeed, REA Group's Australian business was again the standout, however, the European business also reported robust revenue growth.
"Our International growth has accelerated as we prepare to acquire iProperty Group in Asia," Ms Fellows added. "We now have all approvals in place and look forward to completing the acquisition in the coming weeks."
Pleasingly, the company's board resolved to declare an interim dividend of 36 cents per share, fully franked. The ex-dividend and payment dates of the interim dividend are 2 March 2016 and 11 March 2016, respectively.
