Realogy Holdings Corp. (RLGY) has reported 15.76 percent rise in profit for the year ended Dec. 31, 2016. The company has earned $213 million, or $1.46 a share in the year, compared with $184 million, or $1.24 a share for the last year. On the other hand, adjusted net income for the year stood at $239 million, or $1.64 a share compared with $222 million or $1.50 a share, a year ago.
Revenue during the year went up marginally by 1.82 percent to $5,810 million from $5,706 million in the previous year.
Revenue from real estate activities during the year was almost stable at $4,483 million, when compared with the previous year.
Other income during the year was $372 million, up 5.38 percent or $19 million from year-ago.
"Our 2016 results continued to reflect the operating challenges of strong competition for sales agents and soft demand at the high end of the housing market for NRT," said Richard A. Smith, Realogy's chairman, chief executive officer and president.
Net receivables were at $244 million as on Dec. 31, 2016, down 12.54 percent or $35 million from year-ago. Accounts payable went up marginally by 0.72 percent or $1 million to $140 million on Dec. 31, 2016.
Total assets went down marginally by 1.46 percent or $110 million to $7,421 million on Dec. 31, 2016. On the other hand, total liabilities were at $4,952 million as on Dec. 31, 2016, down 3.07 percent or $157 million from year-ago.
Return on assets moved down 19 basis points to 4.95 percent in the year. At the same time, return on equity moved up 103 basis points to 8.63 percent in the year.
Debt comes down
Total debt was at $3,507 million as on Dec. 31, 2016, down 5.27 percent or $195 million from year-ago. Shareholders equity stood at $2,469 million as on Dec. 31, 2016, up 1.94 percent or $47 million from year-ago. As a result, debt to equity ratio went down 11 basis points to 1.42 percent in the year.
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