Domain 1HFY19 update: pricing power and depth penetration save the day…

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Domain 1HFY19 update: pricing power and depth penetration save the day…

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Domain 1HFY19 update: pricing power and depth penetration save the day…
On 15th February 2019, Domain reported its 1HFY19 earnings. Some of the key highlights from the announcement include: 
  • Revenue of A$183.9mn up 0.3% from 1HFY18.
  • Operating EBITDA of A$52.7mn down 7.1% over 1HFY18.
  • Net Profit (excluding extraordinary items) after Tax of A$21.1mn down 14.2% over 1HFY18.
  • EPS, excluding extraordinary items of 3.64 cents, down 15.1% over 1HFY18.
  • Non-cash goodwill impairment charge of A$178.8mn relating to treatment of accounting standard AASB 136 driven by lower near-term growth assumptions.
Pricing power, depth penetration and adjacent businesses drove revenue growth in an otherwise tough housing market while weakness in print meant overall revenue growth was flat YoY.