Net profit falls 13% at REA Group as property listings continue to drop

February 7, 2020 10:36

The tough conditions facing the Australian property market have continued to affect the property portals, with realestate.com.au owner REA Group reporting a 13% drop in net profit for the first half of the 2020 financial year.

Revenue was down 6% and earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped 7% to $272.1m.

Tough market conditions are continuing to affect the property portals with REA Group feeling the pinch

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Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

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Net profit falls 13% at REA Group as property listings continue to drop

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