REA Group has increased site visits for realestate.com.au and realcommercial.com.au and lifted half year profits 34% to $95 million.
Revenue was up 25% to $261.5 million for the six months to December.
CEO Tracey Fellows says the result reflects a focus on strengthening agent relationships. At the same time, REA has expanded with strategic investments in Asia and the US.
“Our increased focus on agents as well as our new market based pricing model delivered a strong performance in our Australian business this half,” she says.
“We have extended our lead over our nearest competitor in both number of site visits and time spent on site. Significantly, over two-thirds of our realestate.com.au audience do not visit our nearest competitor’s site.”
There are 33.2 million monthly visits to realestate.com.au.
REA’s shares are trading up 2.2% to $50.40.
The numbers in detail:
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