The Domain Holdings Australia Ltd (ASX: DHG) share price is up 4% to $2.36 in afternoon trade, but still down around 15% over a disappointing last year for investors.
Domain has not released any material news to the market since before Christmas 2018 when its new CEO Jason Pellegrino updated the market that the online property business was tracking well to its goals of delivering revenue growth and winning market share versus its competitor REA Group Limited (ASX: REA).
On a pro forma basis and backing out "significant items" Domain delivered a net profit of $52.9 million on revenue of $357.3 million for FY 2018 with the net profit and revenue up 7.7% and 11.5% respectively. Earnings per share also grew 7.3% to 9.2 cents per share. The business though does have net debt of $126 million on 1.1x FY 2018's EBITDA or operating income.
The share price rise today may be in anticipation of the group delivering a reasonable interim profit report in just a couple of weeks' time on February 15 2019.
