By Stuart Condie


SYDNEY--REA Group raised its first-half profit by 16% as growth in Australian residential property listings helped the real-estate classifieds provider lift first-half core profit by 22%.

The ASX-listed company on Thursday reported a net profit from core operations for the six months through December of 249.7 million Australian dollars (US$162.9 million), compared with A$204.9 million a year earlier.

Net profit fell 37% on a statutory basis to A$127.4 million on the impact of an impairment against REA's 17% stake in Asia-focused ProperyGuru. Revenue rose by 18% to A$725.5 million.

REA raised its interim dividend to A$0.87, compared with A$0.75 a year earlier.

The average analyst forecast was for a core net profit of A$254 million off revenue of A$721 million, according to data compiled by FactSet.


Write to Stuart Condie at stuart.condie@wsj.com


(END) Dow Jones Newswires

02-07-24 1651ET