Shares in real estate listings business Domain have rallied despite the company reporting a half-year loss.
In its first result since spinning off from Fairfax Media, Domain posted a statutory net loss of $3.4 million in the first half of the financial year, as restructuring costs weighed on the result.
On a pro-forma basis, profit fell 8 per cent to $24.7 million while revenue rose 12.5 per cent to $183.3 million.
Investors appeared to welcome the result, with shares closing 4.5 per cent higher at $3.00.
‘No nasty surprises’
“I think it reflects relief that there aren’t any nasty surprises in the result,” Morningstar analyst Gareth James told the ABC.
Domain…
Read the full article at: http://www.abc.net.au/news/2018-02-19/relief-rally-for-domain-shares-as-ceo-search-continues/9461238?section=business