By Stuart Condie


SYDNEY--Australian real-estate advertiser REA Group Ltd. raised its dividend and targeted further revenue growth in the year ahead after lifting its annual profit by 19%.

The ASX-listed firm on Tuesday reported a net profit for the 12 months through June of 384.8 million Australian dollars (US$268.8 million), compared with A$322.6 million a year earlier. Revenue rose by 25% to A$1.16 billion, and by 18% once the impact of acquisitions was stripped out.

REA lifted its final dividend to A$0.89 from A$0.72 for a full-year payout of A$1.64.

REA said that it aims to grow income more quickly than operating expenses in its 2023 fiscal year, which began on July 1. It expects operating expenses growth in the mid- to high-single digits.

REA is 61% owned by News Corp., the owner of Dow Jones & Co., publisher of this newswire and The Wall Street Journal.


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


(END) Dow Jones Newswires

08-08-22 1838ET