Larry Schlesinger | 6 February 2013

REA Group profits up 25% but paying agent numbers fall

REA Group, publisher of Australia's biggest property listings website realestate.com.au, has reported a 25% rise in interim net profits after tax for the half year to December 31 of $51.6 million.

It's Australian division, which generates 90% of group revenue, increased revenue by 21% to $144.7 million.

Paying agent numbers fell by 4% from 9,324 to 8,982 compared with the previous comparable period, but average revenue per agent rose 27% to $1,924 on the back of them taking pricier premium advertising packages.

Site visits lifted by 2% to 19.4  million across its three Australian websites realestate.com.au, realcommercial.com.au and property.com.au.

Australian real estate listings on realestate.com.au declined 2% year-on-year to 749,634.

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