August 8, 2019 / 11:19 PM / 14 days ago

Australia's REA FY profit more than halves, flags lower listings

Aug 9 (Reuters) - Real estate classifieds firm REA Group Ltd reported a 58% drop in annual profit and flagged lower listings across the first half of 2020, citing challenges from a steep property downturn in Australia.

Reported net profit for the year ended June 30 was A$105.3 million ($71.6 million) from A$252.8 million last year, largely due to an impairment charge on its Asian assets recorded in the first half.

$1 = 1.4717 Australian dollars Reporting by Rashmi Ashok in Bengaluru; Editing by Stephen Coates

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