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

Why Cases Stall in Summer and What Agents Can Do About It

By Cara Stanbridge, Head of Relationship Management at Nova Conveyancing Every year, we hear talk of the summer slowdown. But from what I see working closely with agents, conveyancers and clients, the issue isn’t usually a lack of activity. More often, it’s keeping transactions moving when everyone involved is juggling higher workloads, holidays and competing…
Read More →
small house bird box
Breaking News

Britain’s property hotspots revealed

The Scottish city where houses sell fastest – and the town where it takes SIX TIMES as long to sell your home Homes in Glasgow sell three times faster than the UK average – making the Scottish city the fastest selling in Britain Wakefield is the slowest-selling city in Britain, with homes spending twice as…
Read More →
Breaking News

Breaking Property News 13/8/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The average age of tenants living in shared houses in the UK is now 35   Thought leadership by Adam Pigott CEO of tlyfe (Openbrix)   “The headline figure that tenants are now in their mid 30’s and still have to share facilities, not even have the…
Read More →
Breaking News

Stamp Duty receipts remain above pre-pandemic norms

The latest research from Yopa has revealed that, despite continued speculation surrounding a slowdown in the housing market, Stamp Duty Land Tax (SDLT) receipts remain comfortably above pre-pandemic levels, demonstrating the resilience of buyer activity in recent years. Yopa analysed monthly Stamp Duty Land Tax receipts published by HM Revenue & Customs between January 2018 and…
Read More →
Estate Agent Talk

The summer improvements that could add value to your house

The latest research from Yopa has revealed which summer-inspired home improvements could add the most value to your property once the cost of carrying out the work itself has been taken into account, with a summer house potentially boosting the value of the average UK home by almost £8,000. Yopa analysed a range of popular…
Read More →
AI in estate agency letting agency property
Estate Agent Talk

Turning anxiety into advantage: how SMEs can make AI work for them

By Johann Aguirre, founder of Cachi AI   According to the Office for National Statistics, AI adoption among UK businesses has risen from approximately 12% to around 35% since late 2023. However, adoption levels differ considerably depending on the size of a business and the sector in which it operates. Larger, established organisations may be…
Read More →