REA Group Limited (ASX:REA) today announced its results for the year to date financial information reported by News Corp on 10 May 2018 (EDT). The News Corp report includes US GAAP financial information for REA Group and its subsidiaries for the three and nine months ended 31 March 2018.
Group financial highlights from core operations1 for the nine months ending 31 March 2018 include revenue growth of 20% to $592m and EBITDA growth from core operations of 21% to $345m.
These results were driven by the strength of the Company’s residential and commercial businesses and the inclusion of the financial services business, which was not included in the prior comparative period. The growth achieved during the quarter is pleasing given listing volumes in Australia were lower due to the timing of Easter and project launches continuing to be lower than the prior corresponding period. This resulted in modest growth in the developer business.
The financial services segment, which launched in the first half, remains on track to deliver the previous FY18 revenue guidance of between $26m – $30m and EBITDA between $7m – $11m. The Asia segment continues to grow audience share across the region with increases in app and site visits as well as unique audience. This has also extended the Group’s leadership positions in both Malaysia and Indonesia.
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