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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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REA profits fall 95pc

By Staff Reporter
21 August 2009 | 1 minute read

The online real estate advertiser, REA Group, has recorded a sharp fall in annual profits, with net profits falling 95.8 per cent in the year to June 30.

Net profits fell from $22.24 million in 07/08 to $946,000 this year.

Revenue rose 25.6 per cent to $167.80 million which helped earnings before earnings, tax, depreciation and amortisation to expand by 34 per cent, excluding its UK operations.

During the year, REA sold its UK online operations and UAE operations, and closed smaller operations such as the UK print business and its residential site in New Zealand.

"We have made strategic decisions during the year to focus on the attractive markets where we can command a strong position,'' REA managing director and chief executive Greg Ellis said yesterday.

"Our core Australian business has delivered strong profitable growth and our Italian business has continued to develop in line with our expectations.”

REA profits fall 95pc
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.