Not to mention the prodigious free cashflow generation of $211m in 1H24, representing some 84% of the Und NPAT of $250m. Arguably much more significant than the headline NPAT figure.
And the return of positive operating jaws of 5% in the Australian business, with further gains expected in 2H24 as flagged by management in the call as long as listing volumes hold up (Sydney and Melbourne up 28% in January and February continuing on the same path say management).
Just love these businesses who openly admit they flex investment costs up and down as their line of sight on revenue changes (BRG likewise).
REA Price at posting:
$178.58 Sentiment: None Disclosure: Held
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