May 8 (Reuters) - REA Group Ltd (REA) :
- QTRLY REVENUE AFTER BROKER COMMISSIONS $ 199.8 MILLION VERSUS $198.6 MILLION
- REA GROUP LTD IMPACTED DUE TO SOCIAL DISTANCING MEASURES, BUSINESS CLOSURES DUE TO COVID-19
- QTRLY EBITDA EXCLUDING SHARE OF LOSSES OF ASSOCIATES & JV $119.6 MILLION VERSUS $110.7 MILLION
- TO DATE THERE HAS BEEN NEGATIVE IMPACT ON RESIDENTIAL LISTINGS, WITH APRIL NATIONAL RESIDENTIAL LISTINGS DOWN 33%
- Q4 CORE OPERATING EXPENSES ARE EXPECTED TO BE ABOUT 20% LOWER ON PCP
- HAS CASH BALANCE OF $135 MILLION AS AT 30 APRIL 2020
- WORKING PROACTIVELY TO OFFSET PORTION OF ANTICIPATED REVENUE LOSSES BY IMPLEMENTING COST-SAVING INITIATIVES
- ENTERED ADDITIONAL $149 MILLION LOAN FACILITY WITH EXISTING BANKING SYNDICATE WHICH MATURES IN DEC 2021
- ALSO ARRANGED A $20 MILLION OVERDRAFT FACILITY WITH NAB
- FACILITIES IN PLACE IN CASE OF SIGNIFICANT AND PROLONGED MARKET DOWNTURN; NEITHER FACILITY EXPECTED TO BE DRAWN AT JUNE 30, 2020
- COST-SAVING INITIATIVES INCLUDE WORKFORCE PLANNING, LOWER MARKETING SPEND AND REVIEW OF ALL SUPPLIER ARRANGEMENTS
Source text https://bit.ly/3duitPx
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News: REA Rea Group Posts Qtrly Revenue After Broker Commissions Of $199.8 Mln
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