REA Group's FY profit jumps

Australia's largest online real-estate classifieds company, REA Group, reported a 40 per cent rise in annual profit as it rode a housing boom driven by record-low interest rates locally and a global hunt by investors for yield. 

The company posted net profit for the year through June of $210.2 million, or $210.0m excluding non-controlling interests. 

It declared a final dividend of 40.5c per share, up from 35c in the corresponding period a year earlier. 

REA Group is 62 per cent-owned by News Corp, which owns and publishes The Wall Street Journal and Dow Jones Newswires.