Uncategorised

REA Group announces final profit of $161.6 m following sale of European businesses

By Editor 1 Comments NEWS, Uncategorised
REA Group

REA's sale of its European business has allowed it to invest in the merger of Housing.com and PropTiger.

Leading realty media company the REA Group, has completed the sale of its European business, announcing a final profit of  €111.5 million (AUD 161.6 million) including completion adjustments.

REA, who owns one of Australia's leading online realty portals realestate.com.au,  announced the sale of its European business including atHome Group and REA Italia, in December 2016.

At the time, the group's CEO Tracey Fellows said the transaction would allow the company to further sharpen its focus on its key growth areas, and at the beginning of this year the company announced it would invest US$50 million in merger of Indian portals PropTiger and Housing.com.

Comments

  • phil
    February 2, 2017

    apparently this is €3.7 million below the original announcement

Leave a comment

Your email address will not be published.