Purplebricks Group announces interim results.

Purplebricks announces its Interim results for the six months ended 31 October 2015.

Commenting on the results, Michael Bruce, Chief Executive, said:

 “We have made great progress across the business in the last six months, culminating in our listing on the AIM market in December. The money raised will be used to deepen our national coverage through the recruitment of top quality local property experts and further investment in technology and marketing. This will build on our position as the number one next generation estate agent.

 Our compelling proposition of personalised, high quality service and affordable fees provides the best of both worlds, resonating with a growing number of customers and posing a fundamental challenge to traditional estate agents, who currently dominate the £4bn market.

 As a newly listed company, our focus is on executing the strategy in order to generate attractive returns for all our shareholders. I am pleased with the progress to date and I am confident that we can build a substantial share in this market.”

All positive comments by their Chief Executive, however what catches my eye in the financial highlights is H1 2015  Loss before tax (£2.5m) H1 2016 Loss before tax (£6.4m).

Check out the results here.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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