The company behind Australia's most popular property sales website has seen its underlying half year profit grow by more than a third following acquisitions in Asia and the US.
REA Group, which owns realestate.com.au and realcommercial.com.au, achieved strong growth in revenue and earnings in the six months to December 31.
First half revenue in Australia grew by 26 per cent despite a drop in real estate listing volumes across the industry.
"Our increased focus on agents as well as our new market-based pricing model delivered a strong performance in our Australian business this half," chief executive Tracey Fellows said.
Revenue growth was slower in Europe, with the Italian market described as challenging.
Ms Fellows said acquisitions in Asia and the US, made during the half year, would deliver longer term revenue growth.
REA's profit rose by 34 per cent to $94.7 million, up from $70.7 million during the same period in 2013.
Net profit, which included benefits from the sale of a Hong Kong business and securities, was up 79 per cent to $126.4 million.
During that time, underlying earnings rose by 35 per cent to $144.5 million.
REA did not provide full-year guidance.
Newspaper publisher News Corp Australia holds a 61.6 per cent stake in REA Group.
REA shares rose $1.04, or more than two per cent, to $50.35 by 1354 AEDT.
REA GROUP IS HOT PROPERTY
* Net profit of $94.7m, up 34pct from $70.7m
* Revenue of $261.5m, up 25pct from $209.4m
* Interim dividend of 29.5 cents per share, up from 22 cents
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