During the first quarter of FY 2015, the REA Group continued its strong growth and delivered AUD 121 million in revenues with an EBITDA of AUD 63 million - an EBITDA margin of 52%. Shares in the company remained unchanged on the news.
The REA Group has released details of the year to date financial information which was reported by News Corp on 5 November 2014 (New York time). The News Corp report includes financial information for REA Group and its subsidiaries for the three months ended 30 September 2014.
On 28 July 2014 announced REA’s initial 17.22% investment in iProperty Group Limited (IPP). In the current quarter, REA expects to be issued 5 million shares in IPP in exchange for the Squarefoot business which, together with an additional minor on-market purchase, will result in REA holding approximately 19.9% in IPP. This level of investment, together with a confirmed position on the board means REA intends to equity account for this investment from the date of the initial investment.
REA Group, Chief Executive Office, Ms Tracey Fellows said: “The revenue growth of 22 per cent and EBITDA growth of 31 per cent is a great result from our team. It is a strong indication that, as our business continues to evolve, we are delivering value to our customers and an enhanced consumer experience. The financial results are also pointing to the strength of our listing depth products which are delivering a solid return on investment for agents and their vendors.”
Source: ASX Market Release