REA Group

REA Group (ASX:REA) delivers strong 1H FY21 results despite COVID challenges

PHOTO: REA Group

  • Online real estate advertising company REA Group (REA) has delivered a strong half-year performance update, despite the volatile market conditions
  • The company hit $290.2 million in earnings, an increase of nine per cent over the prior corresponding period
  • Unfortunately, revenue was down two per cent to $430.4 million
  • During the half, realestate.com.au delivered record audience numbers with an average 12.3 million site visitors each month
  • Additionally, 13 million users were recorded in November, equating to 65 per cent of Australia’s population
  • REA also acquired Realtair and Campaign Agent, now holding 19.9 per cent and 27 per cent, respectively
  • As of December 31, the company had a cash balance of $179.9 million and low debt levels
  • REA has ended the day 1.62 per cent in the green with shares trading at $157

Online real estate advertising company REA Group (REA) has delivered a strong half-year performance update, despite the volatile market conditions.

The company had earnings before interest, taxes, depreciation and amortisation (EBITDA) of $290.2 million which is up nine per cent over the prior corresponding period (pcp).

Net profit was also up 13 per cent to $172.1 million, as was the interim dividend — up seven per cent to 59 cents per share.

Unfortunately, REA’s revenue was down two

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