REA Group outstrips forecasts

REA Group outstrips forecasts

A stronger-than predicted result for the REA Group yesterday has led analysts to improve their investment forecasts for the group.

B&T Magazine
Posted by B&T Magazine

The company, which has the biggest real estate website, saw group revenue in Australia soar 21%, leaving the company with a cash pile of $209m, expected to be put into offshore acquisitions.

Half-yearly revenue was $161.4m, from $134.6m last year, with profits up 25% to $51.6m.

Ana,lysts had predicted growth of around 13% for the group.