Domain Group grew profits by a fifth in the three months to the end of September, but has warned its ongoing costs will increase in part due to the acquisitions of Insight Data Solutions.
The increase in revenues reflects “the resumption of print publishing activities” and includes an 18 per cent increase in digital revenue and comes as the busy spring house sales season begins.
“The outlook for the spring selling season is encouraging, underpinned by strong growth in controllable yield and easing of lockdowns,” the company said.
Costs for the 2022 financial year “are expected to increase in the low single digit range” from the prior year in part due to onboarding new staff, the resumption of print publishing and JobKeeper repayments.
Domain Group is part owned by Nine Entertainment, the publisher of The Australian Financial Review.