REA Group to surf the property high as profit surges to $384m

A rush of new property listings and an expansion into India have combined to boost REA Group’s (ASX: REA) full-year net profit by 19 per cent to $384.8 million in FY22.

REA Group, which runs Australia’s largest property selling platform realestate.com.au, has also declared a record final dividend as the company looks to another strong year ahead despite the headwinds of interest rate increases impacting the sector.

The latest result was built on a 26 per cent increase in group revenue to $1.17 billion, although the bottom line was impacted by one-off costs associated with the consolidation of its REA India and Mortgage Choice acquisitions.

Read More: https://www.businessnewsaustralia.com/articles/rea-group-looks-to-continue-riding-the-property-high-as-profit-surges-to--384m.html