Revenue rises at Zoopla
Zoopla has been able to report a 10% rise in revenue despite the loss of almost a quarter of its advertsers due to the launch of property portal Onthemarket.com and their one other property portal policy.
Zoopla who is the second biggest property portal in Britain after Rightmove reported that they made 13 per cent more from each advertiser in the six months to the end of March, boosting its revenues to £42m. Pre-tax profits rose 12.4 per cent to £18.4m.
The number of estate agents advertising on Zoopla has fallen from 16,261 this time last year to 12,449 at the end of March; it lost a further 106 in April.
It was only last month that Zoopla announced the aquisition of price comparison website uSwitch to be able to broaden its business into other home services.
Alex Chesterman, chief executive, reportedl said Zoopla had “a strong first half . . . despite the reduction in members”. He added: “Since the end of the period, UK agency churn has slowed significantly. We expect agency churn to return to normal historic levels over the coming months.”
He further went on to say “We are confident that the number of agents returning to us [from OntheMarket] will accelerate in the coming months.”