Domain Holdings Australia, one of Australia’s leading real-estate advertisers, has announced a 19% decrease in its annual profit due to lower listing volumes. The ASX-listed firm reported a net profit of AUD 26.1 million for the 12 months ending in June, compared to AUD 32.3 million in the previous fiscal year. Despite a 14% decline in national listings, the company managed to offset the decrease with price increases, resulting in a 0.6% decrease in revenue to AUD 345.8 million.
Domain Holdings Australia, the second-largest real estate advertiser in Australia by market share, recorded underlying earnings before interest, tax, depreciation, and amortization of AUD 103.3 million, down from AUD 122.1 million in the previous fiscal year. The company reported an underlying net profit of AUD 38.6 million from continuing operations. The average analyst forecast for underlying net profit was AUD 39.0 million, with revenue projected to reach AUD 363.8 million.
Despite the challenges faced, Domain Holdings Australia managed to increase its controllable yield by 8% and noted early signs of recovery in the listing market, particularly in its major markets of Sydney and Melbourne. The firm’s directors have decided to maintain the final dividend at 4.0 Australian cents per share.
