UPDATE 1-Australia's Domain Holdings off to shaky start with H12018 loss

By Kitco News / February 18, 2018 / www.kitco.com / Article Link

(Adds background, interim dividend, capex outlook)

Feb 19 (Reuters) - Australian property classifieds website Domain Holdings Australia Ltd said on Monday that it made a loss in its first half as a jump in expenses weighed on earnings.

The statutory net loss after tax was A$3.4 million ($2.69 million) for the six months to December, the company said in its first earnings update since being spun off by newspaper publisher Fairfax Media Ltd in November.

The listing coincided, however, with the first signs of a softening in the property market after years of barnstorming price rises, particularly in the two biggest cities, Sydney and Melbourne.

Domain's expenses for the half year rose to A$105.1 million from A$37.6 million a year ago, the company said.

Domain's high-profile chief executive officer, Antony Catalano, also quit without warning last month, two months after the listing, citing family concerns. Domain declared an interim dividend of 4 cents per share.

The company did not provide an interim profit forecast in its listing prospectus and there were no analyst estimates available.

($1 = 1.2655 Australian dollars)


(Reporting by Ambar Warrick in Bengaluru; Editing by Byron Kaye and Peter Cooney)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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