REA posts lift in FY profit

Online real estate advertiser to focus on products for Europe, Hong Kong markets.

Online real estate advertiser REA Group (REA) will focus on development and rollout of products for the Europe and Hong Kong markets after increasing profit and revenues this year.

Profit rose 26 per cent to $109.7 million in fiscal 2013, compared with $87 million in the previous corresponding period.

The group's revenue was $336.5 million in the year, up 21 per cent from $277.6 million the year before.

REA will pay a final dividend of 25.5 cents per share fully franked on September 24, which combined with an interim dividend of 16 cents takes the total dividend to 41.5 cents per share fully franked.

The owner of realestate.com.au says it remains resilient to global economic volatility because its business model is linked to transaction volumes rather than property cycles.

REA is 61% owned by News Corp Australia, publisher of Eureka Report.

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