A good positioned for REA Group Ltd in 2010
Breaking news according to Sydney Morning Herald, in 2010 the real estate company REA Group Ltd will be well positioned this coming year of 2010. Chief executive Greg Ellis says website traffic is strong in Australia, its largest market, and it is making progress in markets overseas, most notably in Italy.
“In April 2009, will continues to attract new users, increasing to 248,000 unique browsers in October 2009.”
Mr Ellis said the Italian business, which was similar to the market size of its Australian business, was the centre of the group’s international growth strategy.
“Given the relative immaturity of the online advertising industry and early stage of internet usage in Italy, it will be some time before we realise the full potential of the Italian market,” he said.
“However, we see casa.it as the centrepiece of REA’s international growth strategy.”
In Hong Kong, where REA published niche property magazines and operates a residential website targeting English-speaking users, continues to attract increasing numbers of users, he said.
“The company is well positioned to continue to succeed in 2010 and beyond, given the substantial work undertaken in 2009,” Mr Ellis said.
In added news last August, REA, suffered a 95.8 per cent fall in net profit to $946,000 in the 12 months ended June 30, impacted by non-cash impairment costs of $54 million.
