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

Breaking News

Mortgage Lending Statistics – December 2025

Latest findings The outstanding value of all residential mortgage loans increased by 0.9% from the previous quarter to £1,733.7 billion, and was 2.9% higher than a year earlier. The value of gross mortgage advances increased by 36.9% from the previous quarter to £80.4 billion, the largest increase in new advances since 2020 Q3, and was…
Read More →
bank of england interest rate
Breaking News

Bank of England interest rates decision – Thoughts from the Industry

The Bank of England has just announced its decision to cut the base rate to 3.75%, the first cut seen since August of this year. This decision comes after inflation (CPI) dropped to 3.2% in November (from 3.6% in October), slowly edging towards the Bank’s 2.0% target. The Monetary Policy Committee voted 5-4 in favour…
Read More →
Breaking News

A Winter Rate Cut to Thaw the Market

By Kevin Shaw, National Sales Managing Director, LRG Today’s reduction in interest rates is very welcome news – for homeowners, buyers, property professionals, and no doubt Government ministers. This warming news is set against a chilly backdrop: unemployment has increased to 5.1%, while the November Budget tightened the fiscal screws. Inflation, however, has eased to…
Read More →
Breaking News

Breaking Property News 18/12/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   “Alas, poor Yorick! I knew him, Horatio” UK Estate Agents to go Danish style Government suggests professionalising property agents by adopting the Danish protocol Extract from the Open consultation Government Home Buying and Selling reform consultation – closing date 29th December ‘Estate agents play a pivotal…
Read More →
Breaking News

2026 Predictions for the Lettings Sector

By Allison Thompson, National Lettings Managing Director, Leaders “The Renters’ Rights Bill will be the defining influence on the sector in 2026. While it raises the bar for professionalism and improves standards for tenants, it also represents the biggest operational shift landlords and agents have faced in a generation. Long-standing tenancy practices are changing, and…
Read More →
Breaking News

The unexpected areas driving the UK property market

The latest market analysis from eXp UK shows that it is Derbyshire, Melton and Oldham that have driven UK house price growth over the last year, having posted the strongest annual increases of all UK local authorities. As another year comes to a close, eXp UK has analysed annual house price growth across the UK…
Read More →