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Domain Holdings Australia Limited (ASX:DHG) provides media and technology services to the Australian real estate market. On 15 February 2019, the company posted its half-year results for FY 2019. Following the release of the results, the share price of the company increased by 21.053% as on 15 February 2019 (AEST 04:00 PM).
During the half year period, the total revenue of the company increased by 65.4 percent to $186.3 million as compared to the previous corresponding period (pcp). Further, the company has reported the net loss after tax of $156.4 million (including significant items), and reported EBITDA Loss of 125.0 million with a loss per share of 26.94 cents for H1 FY19.Â
The company has declared a fully franked dividend of 2.0 cents with a Record date of 21 February 2019 and Payment Date of 7 March 2019. The dividend of 2 cents per share represents a payout ratio of 55%. According to the company, the accounting impact of the non-cash impairment impact the dividend capacity for the first half of the year; however, the dividend capacity is expected to return to normal and support a higher fully-franked dividend in H2 of at least 4 cents per share.
While commenting on the half-year results, the companyâs Chief Executive Officer (CEO) and Managing Director (MD) Mr. Jason Pellegrino told that in the context of current property market cyclicality, the company has delivered a solid performance during the half year, with growth in average revenue per listing.
The companyâs Residential business delivered increased sales of premium products, driving a 10% increase in premium (depth) revenue for the half year period. According to Mr. Jason Pellegrino, the half-year results are the testament to the companyâs strong fundamentals and competitive strength as a leading Australian property technology and services business.
During the half year period, the company witnessed over 10% Residential depth revenue growth and 20% Commercial revenue growth. Further, the company also witnessed a 34% growth in Consumer Solutions revenue. Domain Loan Finder applications increased 56%, and Domain Insure quote-to-sale conversion increased 95%. The Underlying expenses (which exclude Consumer Solutions) of the company reduced by 1.6%, notwithstanding continued investment in product and marketing - a better outcome than previously flagged. During the period, the company increased its stake in Homepass, giving it the control of the business. The company also introduced a new organizational structure aligned to its core listings business and Consumer Solutions.
Now, let us have a quick look at DHGâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $2.530 with a market capitalization of ~$1.21 billion. The counter opened the day at $2.170, reached the dayâs high of $2.570 and touched the dayâs low of $2.120 with a daily volume of 12,593,592. The stock has provided a YTD return of -5.86 & also posted returns of -38.17%, -11.06% over the past six months and three months period respectively. It had a 52-week high price of $3.640 and touched 52 weeks low of $2.060, with an average volume of 1,210,475.
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