REA Group announces huge FY21 financial results

REA Group has posted practically $1bn in income for the monetary yr simply ended, fuelled by the continued property growth and its buy of two huge names within the dealer house.

Earnings jumped 18%, rising to $318m on a complete income of $928m, leading to a shareholder dividend of 131c per share, a 19% rise.

The principal drivers of this development had been a 13% enhance in Australian enterprise because of the huge rise in residential property market.

REA Group managed to avoid the worst of the lockdowns through its flagship web site, which drew thrice as a lot on-line site visitors as their nearest competitor.

For the dealer channel, the REA Group made waves within the final yr by buying out Mortgage Choice, a serious franchise enterprise, including to their preexisting dealer providing, Smartline.

They also bought 34% of Simpology, an fintech that helps brokers to course of mortgage purposes and e-lodgements.

“This has been a defining yr for REA, efficiently navigating the pandemic to ship a superb monetary consequence and emerge a good stronger enterprise,” mentioned Owen Wilson, CEO of REA Group.

“I’m very pleased with our group’s skill to reply to the altering wants of our clients and shoppers through the pandemic, whereas additionally accelerating our development technique by quite a lot of pivotal investments.”

“Our flagship web site delivered stellar outcomes, extending its place because the clear market chief in digital actual property and it’s now Australia’s eight largest on-line model total.”

“The supply of extremely personalised client experiences has underpinned our viewers development, permitting REA to proceed to supply our clients with certified results in assist them develop their companies. This included a robust 55% YoY enhance in purchaser enquiries throughout FY21.”

“REA is coming into the brand new monetary yr with robust momentum, regardless of ongoing lockdowns. This momentum, coupled with our strategic investments and thrilling product roadmap, gives a superb platform for our continued development.”

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