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.

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.

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