Purplebricks UK business now in profit

June 29, 2017
sold purplebricks

Purplebricks Group plc, today announces its final results for the year ended 30 April 2017.

UK expectations upgraded, Australia on track, US beckons.

Group revenue up 151% to £46.7m (FY16: £18.6m) – UK revenue up 132% to £43.2m (FY16: £18.6m)

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

 “This has been a very successful year in the early development of the Purplebricks model and brand.   We have materially grown our national footprint and have built a growing brand awareness and reputation for delivering customers a more convenient, transparent and cost effective service. In tandem with our growth we have invested in the business and strengthened the management team. This has allowed us to significantly grow our number of positive reviews on the independent review site Trustpilot (currently with over 20,000). We have retained our rating of excellent. Purplebricks is now in a strong position to become the no.1 estate agent in the UK for both listings and sales.  

 “With the UK business now in profit it is encouraging to see Australia following a similar growth trajectory. Just eight months in and Purplebricks already operates in five key states, which represent 85% of all Australian property transactions. The launch of our Commisery campaign in Australia from May 2017 will further accelerate progress. All of this bodes well for the US, where plans to launch, first in California, in the second half of the calendar year are progressing at pace.

“We are confident that we have a compelling proposition and the strategy, team and Balance Sheet strength to deliver on it for all stakeholders.”

Read the Final Results announcement 29th June 2017 in full click 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.

You May Also Enjoy

Breaking News

Breaking Property News 20/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why estate and letting agents must embrace innovative technology in 2025   As we step into 2025, the UK property market continues to shift, and estate agents face mounting pressure to meet the evolving expectations of buyers and sellers. The days when static images sufficed…
Read More →
Breaking News

Breaking Property News 19/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   High street Auctions’ initiative launches to revive Britain’s town centres   This month the UK Government rolls out its highly anticipated ‘High Street Auctions’ scheme, a flagship measure of the Levelling Up and Regeneration Act 2023. This initiative grants local authorities the power to take…
Read More →
Estate Agent Talk

Moving Up In The World: Finding Your Dream Home

Finding your dream home is one of life’s most exciting and transformative experiences. Whether you’re looking to upsize, relocate, or finally purchase that ideal property you’ve always envisioned, the journey is both thrilling and filled with important decisions. As you embark on this path, it’s essential to plan carefully, consider your priorities, and approach the…
Read More →
new build home fronts
Breaking News

These cities are the keenest to move house in 2025

Bournemouth is the keenest area in the UK to move home, with 38,132 average monthly searches for moving-related topics per 100,000 residents. Plymouth is second, with 35,198 average monthly searches for moving, and Birmingham is third, with 35,181. Derry is the least keen area to move house, with only 3,170 average monthly searches related to…
Read More →
Love or Hate Rightmove
Breaking News

Number of rental enquiries still double pre-pandemic, as rents predicted to rise 3%

The average number of enquiries sent to agents about each available property they have to rent is still nearly double the level it was in 2019, despite improvements in the balance between supply and demand: Each available property receives an average of 11 enquiries, nearly double the 6 at this time in 2019 This is…
Read More →
bank of england interest rate
Breaking News

Response to the Bank of England interest rates decision

Response to the Bank of England interest rates decision, thoughts from the Industry Rates were left unchanged at 4.75% MPC voted 6 to 3 in favour of holding rates flat, with three members preferring to cut rates by 0.25% to 4.5% In the near-term inflation is expected to “continue to rise slightly” The market was expecting rates to remain…
Read More →