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ASX 200 reporting season
REA Group and News Corp shine amid dividend increases
REA Group reports notable profit growth and increased dividends, while News Corp shows robust financial performance amid strong market dynamics and Pinnacle’s impressive gains.
(AI video summary)
This video was created on 6 August for IG audiences by ausbiz.
Key financial results
REA Group (ASX:REA)
REA Group has announced a 35% increase in its fully franked final dividend, bringing the total annual payout to $2.48 per share. REA Group's net profit rose by 23%, with revenue jumping 15% to reach $1.67 billion. Notably, the Indian market saw revenue surge 125% to $129 million.
News Corp (ASX:NWS)
News Corporation (News Corp), a major REA shareholder, reported a 2% increase in full-year revenue to $8.5 billion, driven by strong performances at REA and Wall Street (Dow Jones). Excluding Foxtel's sale, News Corp's net income from continuing operations rose 71% to $648 million. Earnings climbed 14% to $1.42 billion, accompanied by a semi-annual cash dividend of $0.10 per share and a $1 billion share buyback.
Pinnacle Investment (ASX:PNI)
Pinnacle Investment Management has also posted strong results, with full-year profit increasing by 49% to $1.34 million and funds under management growing by 15% to just over $179 billion. The company plans to distribute a final dividend of $0.27 per share.
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