Purplebricks sales rocket as sluggish housing market ‘shakes out’ rivals

Purplebricks has reasserted its dominant grip on the UK online estate agency market, reporting a 20pc surge in half-year revenues despite a slowdown in the wider sector.

The Aim-listed company said it had maintained its 74pc share of the online market in an investor update that came after rival Emoov put itself up for sale after running into financial problems last week.

Michael Bruce, chief executive, said the sluggish market had led to a “shakeout” in the industry, “highlighting weaknesses in both some traditional and online agents business models”.

Purplebricks Group plc (LON:PURP) engages in estate agency business in the United Kingdom and Australia. It provides services relating to the sale of properties. The company was formerly known as New Broom Limited and changed its name to Purplebricks Group plc in December 2015. Purplebricks Group plc was incorporated in 2012 and is headquartered in Solihull, the United Kingdom.

Read the full article

Click to view all articles for the EPIC: PURP, Zeus
Or click to view the full company profile:

Fintel core revenue growth is higher than Zeus forecast

29th July 2022

Fintel plc (LON:FNTL), the leading provider of Fintech and support services to the UK retail financial services sector, has released a trading update for the six months to 30 June 2022, which reveals: Core revenue grew

Shoe Zone analyst Zeus upgrades FY22 adjusted PBT forecast

26th July 2022

Shoe Zone plc (LON:SHOE) Better than expected demand and further strong margin performance leads to an upgrade in FY22E adjusted PBT from “no less than £8.5m” to “no less than £9.5m”. Zeus revenue forecasts increase by

LBG Media “significant untapped growth opportunities” says Zeus

21st July 2022

LBG Media plc (LON:LGB) confirms trading for the full year is to be ‘at least’ in line with current consensus, despite a challenging macro environment. The assured outlook reflects strong growth in volume of views (H1

DWF Group “significant long-term upside” says Zeus

21st July 2022

DWF Group plc (LON:DWF): A record year of strategic progress ¨ FY22 Results: Results were well flagged at a trading update in May. Net Revenue of £350.2m is +3.6% YOY, with LFL growth of 7%. Adjusted

CentralNic analyst Zeus raise 2022 revenue forecast by 8% to $617m

19th July 2022

CentralNic Group plc (LON:CNIC) LTM pro forma revenue growth accelerated again to 62% in Q2 2022, resulting in revenue of $335m and Adjusted EBITDA of $38m in H1. The company upgraded guidance, which appears very conservative.

OnTheMarket analyst Zeus confident in forecasts

19th July 2022

Foxtons, one of London’s leading estate agencies with more than 50 interconnected branches across London, has signed an agreement to advertise its UK residential sales and letting properties at OnTheMarket plc (LON:OTMP). Zeus view: Foxtons, the

tinyBuild H1 performance was slightly ahead of expectations says Zeus

13th July 2022

tinyBuild plc (LON:TBLD) H1 performance was slightly ahead of expectations despite sector indications of soft demand. The company continues to see strong demand from subscription services and its back catalogue whilst effectively managing the impact of

SpaceandPeople analyst Zeus restores estimates and valuation

11th July 2022

SpaceandPeople plc (LON:SAL) secures, sells, and manages flexible space for brand experiences, short term promotions and retailing in high footfall venues for its customers, including in shopping centres and travel hubs. The Group has issued a

Symphony Environmental “positive outlook on commercialisation and the pipeline” says Zeus

8th July 2022

Symphony Environmental Technologies plc (LON:SYM) has announced new orders and a global expansion of d2p anti-insect technology sales to Rivulis, a global leader in drip irrigation products and solutions. The company has placed orders valued at

Inchcape analyst Zeus upgrades FY22 revenue forecast by 3.1% to £7.3bn

1st July 2022

Inchcape plc (LON:INCH) held the first of its ‘In The Driving Seat’ webinars, highlighting the opportunities in the Americas, one of the Group’s fastest growing regions with compelling structural trends. The company set out the implementation

Lookers shares are still undervalued says Zeus

30th June 2022

Lookers plc (LON:LOOK) has released an H1 trading update reporting a continuation of strong performance year to date. H1 2022 underlying PBT is expected to be c. £45m and Management anticipate full year PBT will also

Gooch & Housego “attractive at the current share price” says Zeus

27th June 2022

We think Gooch & Housego is attractive at the current share price and initiate research coverage with a valuation of 1,150p, indicating c.30% potential upside. Manufacturing is gradually recovering from COVID and supply chain disruptions, and

Vertu Motors “has had a strong start to the year” says Zeus

22nd June 2022

Vertu Motors plc (LON:VTU) has released an AGM Trading update that communicates a continuation of the strong trading announced on 11 May. The trends of constrained supply and high margins continue. We leave forecasts unchanged today,

Van Elle’s analyst Zeus upgrades expectations for FY22 and FY23

21st June 2022

Van Elle Holdings plc (LON:VANL) has announced an appointment to the Piling framework for the West of Leeds section of the Transpennine Route Upgrade (TRU), a major programme of rail investment across the North West and

SysGroup analyst Zeus forecast a 39.0% increase in revenue in FY23

20th June 2022

SysGroup plc (LON:SYS) is an award-winning provider of managed IT services, cyber security, cloud hosting and IT consultancy. The Group offers investors an attractive business model with high recurring revenue and a diversified customer base. SysGroup

Be sure to check our sister interview main ratings news website