News, REA make Move on US real estate

If you’ve been following REA Group, you’ll have got used to lots of fat margins and big profit numbers. So it might come as a shock to find that it and News Corp’s latest acquisition target – the US-based Move – made a loss in the six months to June. And it’s nothing out of the ordinary, with the company making an operating profit of no more than US$6m in any of the past five years despite sales hovering around US$200m. The performance reflects several things. The first is that it has been a tough few years for the US...

If you’ve been following REA Group, you’ll have got used to lots of fat margins and big profit numbers. So it might come as a shock to find that it and News Corp’s latest acquisition target – the US-based Move – made a loss in the six months to June.

And it’s nothing out of the ordinary, with the company making an operating profit of no more than US$6m in any of the past five years despite sales hovering around US$200m.

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