The multinational digital publishing company REA Group has announced its results for the year ended 30 June 2017. Financial highlights from core operations1 include strong revenue growth of 16% on the prior year to $671.2m, and an increase in EBITDA of 16% to $380.9m. The reported Net Profit of $206.3m, includes one-off transactions (see Appendix 1).
• Revenue of $671.2m, up 16%
• EBITDA of $380.9m, up 16%
• Net Profit of $228.3m, up 12%
• Full year dividend of 91.0 cents per share, up 12% • EPS of $173.3 cents, up 12%
The revenue growth was driven by a 14% increase in Australia and the inclusion of iProperty revenue for the full year. The excellent result in Australia was achieved in a market of lower residential listing volumes and a significant decline in new dwelling commencements.
The Board has declared a final dividend of 51.0 cents per share fully franked. This represents a total dividend of 91.0 cents per share for the 2017 financial year, a 12% increase on the prior year.
REA Group CEO, Tracey Fellows, commented: “This is an exceptional result, driven by our focus to create the best products and experiences that deliver outstanding value for our customers.”
“In Australia, we have extended our position as the clear market leader, with our audience growth reaching record highs against our nearest competitor.
“We continue to diversify our business and deepen consumer engagement across the property journey. The most significant and exciting has been our move into financial services, through our partnership with NAB and our acquisition of the broking business, Smartline.
“Globally, we remain focussed on Asia and our investment in the US with Move, as an important part of our long-term growth strategy,” said Ms Fellows.
Financial results from core operations1 for the year ended 30 June 2017 include: