25th May 2016 06:37
LONDON (Alliance News) - Zoopla Property Group PLC said its revenue more than doubled in its first half, largely thanks to the additional revenue stream coming from its Comparison Services division, which was not part of the group a year earlier.
Zoopla, which owns consumer brands focused around property including uSwitch and PrimeLocation, reported revenue of GBP96.4 million for the six months ended March 31, more than double the GBP42.0 million it posted for the same period a year earlier, on the back of an additional GBP57.7 million coming from its Comparison Services division.
The Comparison Services was born out of Zoopla's acquisition of home services comparison platform USwitch in the second half of its previous financial year.
Revenue from Zoopla's other division, Property Services, dropped slightly to GBP38.7 million for the period, down from GBP42.0 million, but said this was due to tough comparators for the same period a previous year.
Zoopla posted a pretax profit of GBP28.1 million, up from GBP18.4 million a year earlier, and said it saw strong traffic over the year, with more than 300 million visits to its website.
Zoopla said it was offering an interim dividend of 1.5 pence per share, up from 1.0p per share a year earlier.
The company said it was pleased with current trading and expects its adjusted earnings before interest tax, depreciation and amortisation for its full financial year to end September to be at the top end of market expectations.
Zoopla added it continues to invest in product innovation and audience growth across both divisions
By Hannah Boland; [email protected]; @Hannaheboland
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