REA Group revenue up as Australian property prices sit at record highs
May 7, 2021 10:08
News Corp’s REA Group has announced its financial results for the quarter ending March, with the numbers reflecting the strong recovery of the Australian residential property market.
In Q3 of FY21, REA Group revenue (excluding acquisitions) rose by 8% to $225.6 million, while Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) including share of profit/losses from associates grew by 13% year-on-year to hit $123.3 million. REA Group’s assets include leading Australian real estate listing website realestate.com.au.
REA Group Results Q3 FY21 [click to enlarge]
REA Group chief executive officer, Owen Wilson, said: “Australia’s property market is in full flight, with this positive momentum contributing to strong growth for the quarter.”