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Stock impact report

REA Hoists Dividend as 1H Profit Rises 22% on Volume Growth -- Update [MarketWatch]

PropertyGuru Group Limited Ordinary Shares (PGRU) 
Company Research Source: MarketWatch
The ASX-listed company on Thursday reported a net profit from core operations of 249.7 million Australian dollars (US$162.9 million) for the six months through December, compared with A$204.9 million a year earlier. Advertisement Net profit fell 37% on a statutory basis to A$127.4 million on the impact of a A$120 million impairment against REA's 17% stake in Asia-focused PropertyGuru. Revenue rose by 18% to A$725.5 million. REA raised its interim dividend to A$0.87, compared with A$0.75 a year earlier. The average analyst forecast was for a core net profit of A$254 million off revenue of A$721 million, according to data compiled by FactSet. Advertisement New residential sale listing volumes at REA's core Australian operation rose by 4% on year, propelled by activity in the country's two largest cities. Listings volumes in Sydney and Melbourne grew by 19% and 18%, respectively, as rallying property prices enticed sellers back to the market. Buy yield rose 19% on year, be Show less Read more
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