22nd Oct 2015 06:52
LONDON (Alliance News) - Online property portal Zoopla Property Group PLC on Thursday said it expects revenue and its adjusted earnings before interest, taxation, depreciation and amortisation to grow for the year to the end of September and said it is seeing encouraging trends in its markets.
Zoopla said its revenue for the year to September 30 is expected to be around GBP107.0 million, up from GBP80.2 million a year earlier, while its adjusted EBITDA will be around GBP48.0 million, up from GBP39.8 million.
The property services arm of the company performed well over the year, with UK agency membership continuing to return to growth. Zoopla has added 146 net new agency branches in the UK since its last update in July, taking total UK agency members up to 12,702 at the end of the financial year.
Comparison services has performed ahead of expectations for the group since the acquisition of uSwitch in June. The energy vertical in the division benefited from uSwitch's market-leading position, Zoopla said, and the communications vertical has performed well amid highly-competitive consumer deals being offered on broadband and mobile contracts.
Zoopla said it was encouraged by the UK agency membership growth seen in recent months and is confident it will deliver growth in its revenue per advertiser based both on the robust demand and new packages which have been launched.
By Sam Unsted; [email protected]; @SamUAtAlliance
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