REA Group revenue up 13% for FY21 as residential property market thrives

Zanda Wilson

August 6, 2021 10:32

News Corp’s REA Group Ltd (REA) revealed a 13% revenue in increase for the financial year ending 30 June 2021, as total revenue reached $938 million.

Off the back of strong growth in the Australian residential market, the Melbourne-headquartered business reported a 19% increase in Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBIDTA) including associates to $565 million.

Net Profit After Tax (NPAT) was up 18% year-on-year to $318 million. REA Group’s balance sheet included $414m in debt and a cash balance of $169 million.

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Zanda Wilson

Zanda Wilson was a reporter and podcast producer at Mumbrella, specialising in radio reporting. He left Mumbrella in September 2021.