Purplebricks announces interim results.

December 5, 2016
Purple Bricks Logo

Purplebricks PLC today announces its interim results for the six months ended 31 October 2016 headlined ‘UK achieves maiden EBITDA profit, plans to accelerate market share growth‘.

Commenting on the results, Michael Bruce, CEO stated: “Our strong results are testament to the seismic shift that is underway in the estate agency market. We continue to win over an increasing number of customers by offering them a complete and seamless high quality estate agency experience at an attractive fixed fee. I am especially proud that currently we are agreeing a sale every 16 minutes, 24 hours a day and the number of properties sold in the first half is similar to the total number of properties sold during the whole of the previous year. These results demonstrate that the business model is working, with the UK generating a maiden half-year adjusted EBITDA profit whilst growing market share. ÿ

“We have also demonstrated that our team can internationalise our model with the successful launch of Australia which has performed better than any of the initial regional launches in the UK.

“Although we recognise that the UK market backdrop is tough, we continue to have a confident outlook for the future. We have momentum, a superior, low fixed cost flexible business model and a strong balance sheet, which we will leverage further in the early part of the busier spring market so as to build on our success to date.” ÿÿ

Read the interim results announcement from Purplebricks PLC in full click here

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Estate Agent Talk

Castles, cottages, vineyards and barn conversions

The latest data from LandSale has revealed what buyers can expect to pay, and how much they can get for their money if they want to escape to the country, with castles, vineyards, barn conversions, and cottages currently offering very different routes to rural living. The analysis draws on LandSale’s internal listing data and examines…
Read More →
Breaking News

Poor property maintenance could wipe £59,000 in value

The latest research by property management specialist, Rushbrook, has revealed that landlords who fail to adequately maintain their rental properties could see as much as £30,172 wiped from the value of the average buy-to-let investment across England, with this potential loss climbing to almost £59,000 in London.   Rushbrook analysed landlord-specific property values across each…
Read More →
Breaking News

Breaking Property News 20/8/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why Angela Rayner Housing Secretary is in the wrong job – again   A smile, bluster and vague soundbites will not solve the UK housing crisis  Thought Leadership by Andrew Stanton – CEO Proptech-PR  ‘I have been involved in the UK property industry since the mid 1980’s…
Read More →
Breaking News

Buyers Looking Beyond London

London new-build demand plummets behind commuter belt as buyers look beyond the capital   Demand for new-build homes in Essex more than three times higher than in London, while Hertfordshire faces supply squeeze amid growing buyer appetite   The latest research by UK Property Development has revealed a growing divide between London’s new-build market and…
Read More →
Finance

Top six tips for first-time buyers

Independent mortgage broker, Flagstone Financial, has outlined key advice for first-time buyers, pointing to flexible options as signs of an improving mortgage market.   With high loan-to-value lending (80–95%) becoming more widely available, the property ladder is more accessible than in recent years, and experts at Flagstone Financial, partner of the Beresfords Group, are advising…
Read More →
to let sign 2025
Breaking News

England’s rental stock surges by as much as 86.6% in a year

Rental listings have almost doubled in Tyne and Wear since August 2025, with Greater Manchester and a host of other markets also recording double-digit growth   The latest research from Propoly has revealed that England’s rental listings have climbed by an average of 7.4% in the past year, led by an 86.6% increase in Tyne and…
Read More →