REA Group increases revenue by 23%

By By Wenlei Ma | 19 August 2011
 

REA Group, owners of realestate.com.au, has posted a 23% rise in revenue to $238.4 million, following a big jump in users and growth from new activity.

The group has also recorded full year earnings before interest, tax, depreciation and amortisation (EBIDTA) of $103.1 million, a 32% increase on $77.9 million in the prior period. New profit from continuing operations were $67.5 million, a 37% increase on $49.3 million.

The company declared a financial year final dividend of 16 cents per share (fully franked) to be paid on October 14.

Realestate.com.au is still the flagship arm of its Australian business, representing 65% of Australian revenue. REA Group has launched iOS and Android apps for realestate.com.au in the past year.

REA Group chief executive and managing director said: "As our FY11 results show, REA Group is now a truly diversified online advertising business. We are delivering growth through six areas within the business, including commercial real estate, media and our international operations.

"Importantly, a number of those areas are now recording higher growth rates than our more established Australian residential advertising business, reducing our reliance on that business to fund growth and innovation."

According to REA Group, it had 9.2 million unique visitors in May 2011, up from 6.7 million 12 months previously.

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