It was another fine REA result, with operating profit growth in...

It was another fine REA result, with operating profit growth in the second-half accelerating to 31%, from 26% growth in the first half.

Of course, it warrants remembering that both halves of FY2024 have been cycling two weak corresponding periods in FY2023:




But overall a very solid result which some could argue justifies the lofty valuation of the stock.

(Or, in the glass half-full view, in order to sustain the lofty valuation, these sorts of results are very necessary and anything less would induce a de-rating of the valuation multiple).

When a stock is trading at almost 50x, everyone can write his or her own adventure.

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