Domain Holdings Australia Ltd (ASX: DHG), the owner of domain.com.au, released its 2018 financial results to the market today revealing an 11.5% increase in revenue.
Domain Holdings is the owner of the popular property site and app, Domain. It also owns commercialrealestate.com.au, allhomes.com.au and other ancillary property-related businesses.
Here are some of the highlights from its report:
- Underlying revenue grew by 11.5% to $357.3 million
- EBITDA grew by 12.5% to $115.7 million (click here to learn what EBITDA means)
- EBITDA margin increased to 32.4% from 32.1%
- Underlying net profit grew by 7.7% million to $52.9 million
- Reported net loss after tax of $29.6 million including write-offs
According to Bloomberg, analysts were expecting Domain to report a profit of $52.3 million, so the underlying result appears to have slightly beaten expectations. A dividend of $0.08 was also expected, Domain declared a final $0.04 dividend, bringing the total to $0.08.
Domain Chairman Nick Falloon said: “The business is strongly positioned as an Australian real estate media and services platform with excellent growth prospects.”
The company was also pleased to point out that it has almost reached total number of listings parity with REA Group Limited (ASX: REA), which reported last week.
In regards to the merger between Nine Entertainment Co Holdings Ltd (ASX: NEC) and Fairfax Media Limited (ASX: FXJ) Mr Falloon commented, “We only see considerable upside for Domain through the additional marketing and audience reach of the combined businesses.”
In the first six weeks of FY19, Domain said that there was a subdued listings environment in Sydney.
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