Record Performance and Growth reported by ZPG
ZPG released on 23rd May 2018 their half-year results for the six months ended 31 March 2018.
Business highlights
Revenue up by 33% to £156.9 million and Adjusted EBITDA up by 41% to £63.4 million
Like-for-like (Like-for-like growth includes a full six months trading from all acquisitions in both periods) revenue and Adjusted EBITDA increased by 10% and 21% respectively
Adjusted EBITDA margin up to 40.4% driven by improvements and timing of investment
Almost 350 million visits across the group’s platforms generating >36 million partner leads
New product portfolio, data expertise and partner relationships resulting from acquisitions
Continued product innovation and differentiation with launch of new tools across platforms
Profit for the Period (Profit for the Period includes £17.7 million (H1 2017: £13.0 million) of exceptional items and amortisation of intangibles arising on acquisitions (adjusted for tax) recognised during the Period) was up 33% after acquisition-related costs and share-based payments
The Board has resolved not to declare an interim dividend following the Silver Lake offer
Commenting on today’s announcement Alex Chesterman, Founder & CEO of ZPG Plc said:
“We had a strong first half to the year across both divisions and I am pleased to report revenue of £156.9m and Adjusted EBITDA of £63.4m for the Period. We continue to grow our consumer engagement and to lead innovation with the launch of new tools across our platforms, helping our consumers to make smarter property and household-related decisions and our partners to operate more effectively.
“Our Property division performed well across each vertical, helped by demand for additional products, cross-sell and new contract wins, including the continued return of agents to our portals.”
“Our Comparison division also performed well with leads up across each vertical. Energy had an exceptionally strong first half as a result of ongoing optimisation of the consumer journey and extreme weather during the Period prompting increased switching levels.
“Looking ahead, we are excited about the prospect of working with Silver Lake and the opportunity this offers to our employees, consumers and partners as we move to the next stage of ZPG’s development and growth.”
Read the ZPG announcement 23rd May 2018 in full click here.
You May Also Enjoy
Property values climb in Q1
Propertymark backs move to commonhold
Phasing out leasehold flats is the right thing to do
Deposit Disputes Are Rising – Are Baths to Blame?
Inheritance tax haul grows as more families are dragged into the tax net
