I doubt it was a loss of a big advertising contract. Online...

I doubt it was a loss of a big advertising contract. Online advertising peaks in the Nov to Dec quarter because of Christmas, falls in Jan to March quarter and then builds up again to repeat same cycle.

I’m looking forward to seeing the impact of lease.com.au. If they get it right and gain some traction there then ad revenue will grow, much higher cost per click possible on the commercial site than on residential.

It’s a slow burn old RNT but could see substantial gains from here in next 12 months. Could also see a takeover offer on the table as soon as business becomes cost neutral, maybe even before then.