BUZZ-Australia's REA Group falls after CEO's surprise exit, higher cost guidance

Reuters
06 Feb
BUZZ-Australia's REA Group falls after CEO's surprise exit, higher cost guidance

** Shares of REA Group REA.AX fall 0.9% to A$249.56, stock among top losers in the benchmark index .AXJO

** Property listing firm says CEO Owen Wilson will retire from the role in the second half of 2025

** Jarden analysts call the retirement "somewhat of a surprise"

** REA Group sees low double-digit growth in group core operating cost for FY25, higher than earlier guidance of high single-digit growth

** Jarden says new cost guidance could represent about A$12 mln ($7.54 mln) to A$20 mln increase to REA's FY25 cost outlook

** Co posts HY net profit of A$314 mln, missing Jarden estimate of A$321 mln profit but beat a Visible Alpha consensus estimate

** Stock up about 8% this year, as of last close

($1 = 1.5918 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

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