10th Jul 2023 10:43
OnTheMarket PLC - Aldershot, Hampshire-based property listing website - Posts revenue of GBP34.4 million in the year ended on January 31, up 14% from GBP30.2 million the year before. Says the rise in revenue reflects "growth in paying customers, strong product sales and continued growth in New Homes". Swings to a pretax profit of GBP209,000 from a loss of GBP1.2 million, as operating profit is GBP124,000, compared to a loss of GBP966,000 the year before. Adjusted earnings before interest, tax, depreciation and amortisation rise by 38% to GBP8.0 million from GBP5.8 million the year before. Looking ahead, starts financial 2024 with current trading in the year-to-date in line with expectations.
Chief Executive Officer Jason Tebb says: "I am delighted to report a strong financial performance with record revenues and profits. Our ongoing strategic progress continues to enhance our offering for estate agents, lettings agents and housebuilders, whilst driving the network effects of the business."
Current stock price: 51.25 pence each, down 6.0% on Monday morning in London
12-month change: down 40%
By Xindi Wei, Alliance News reporter
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