Domain Holdings, a real estate listing’s company, has recently reported a drop in profit in the first half-year result since it broke away from Fairfax Media last November.
They also reported that because the costs associated with its spin-off from Fairfax Media, the operating profit fell to $24.7 million, making the statutory loss at $3.4 million. That being said, revenue has risen 62.3% to $112.7 million, thanks to the residential listings segment which, in the last half year, grew more than 19%.
Antony Catalano resigned shortly after Doman slip off into a separate entity and the sudden move saw a sharp drop in its share price.
Recently, Nick Falloon, the Domain executive chairman stated that the “working environment” of the company would be reviewed following a scathing article in the Fairfax-owned Australian Financial Review. It described the workplace under Catalano as a “boys’ club,” drawing much attention to the inner workings of Domain.
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