REA flags further housing market slowdown

August 11, 2017

REA Group's reported half-year net profit has fallen 19 per cent to $206 million.

REA Group full-year reported net profit has slipped 19 per cent to $206 million, due to a $182.8 million write-down of its Asian business due to a decline in several of the region's property markets.

But the online real-estate advertiser's net profit from core operations for the year to June 30 grew 12 per cent to $228 million while revenue from core operations rose 16 per cent to $671.2 million.

The News Corp-controlled company declared a total dividend for the year of 91 cents per share, fully franked, up from 81.5 cents in 2016.

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