Domain reports $175.3 million revenue, as print and digital go up

Domain Group has reported $175.3 million in revenue in its 2022 half-year financial results, going up 27.9%, which was revealed on Thursday.

Jason Pellegrino, Domain's chief executive officer, said: "Through the volatile trading environment of the past three years, Domain has maintained the pace of our business strategy evolution. We have responded to the changing environment while continuing to innovate for the future.

"I am incredibly proud of the hard work of our team in progressing Domain into a fundamentally better business. We have positioned Domain to take full advantage of the rebounding property environment," he added.

The report noted the company's statutory revenue was $176.2 million, and net profit after tax of $19.5 million including a significant loss of $6.6 million.

Trading expenses went up 36.7%, up to $114.3 million, while ongoing expenses rose up 15.7%, $106.7 million.

The majority-owned Nine Entertainment company has reported strong numbers across their business, with residential revenue up 29%, while Media, Developers & Commercial revenue increased 15%.

Agent Solutions revenue rose 19% and Property Data Solutions increased 21%. Together the categories delivered core digital growth of 26% and ongoing   

Together these categories delivered Core Digital revenue growth of 26% and ongoing earnings before interest, taxes, depreciation, and amortization (EBITDA) of 43%.

The group's results also noted an increase in total digital revenue up 26% and print revenue also rose up to 75% as the company resumed a full printing schedule.

Pellegrino added: "We continue to build momentum behind this transition to a property marketplace, demonstrated by the scale of the change in our business performance metrics over the past three years.