REA Group lifts H1 profit

McLennan says first-half results are vindication of board's long-term strategy.

REA Group (REA) chairman Hamish McLennan says the group's strong first-half results are vindication of the board's long-term strategy.

In the six months to December 31, net profit was $70.69 million, a 37% increase on the $51.59 million in the previous corresponding period.

Revenue in the same period was 209.42 million, a 30% jump on the $161.43 million recorded in the first half of the previous fiscal year.

The group will pay a fully-franked interim dividend of 22 cents.

"This half-year represents another record result for REA Group and its shareholders," Mr McLennan said.

"As these results clearly show, we have the right long-term strategy in place and the board is confident the group’s talented and capable team will continue to deliver on our strategy.”

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles