AFR reports:
3 hrs ago – 8.51AM
REA Group lifts revenues, says listings positive
Tom Richardson
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Online property business REA Group reported EBITDA for the September quarter climbed 7 per cent to $169 million on a 16 per cent increase in revenue to $305 million.
Operating expenses were also higher, up 22 per cent to $131 million.
REA Group chief executive Owen Wilson said its Indian operations are performing well.
“This result demonstrates the strength of our business and reflects the significant traction of our premium products as sellers increasingly seek to differentiate their properties,” chief executive Owen Wilson said.
“The listings environment was positive in the first quarter, with supply and demand continuing to rebalance in the major metropolitan markets.”
“REA India further consolidated its position this quarter as the number one property portal in India by audience, continuing to build on its momentum to deliver strong revenue growth.
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