The Zoopla Property Group has released its half year results for the period ending 31 March 2015. Revenues were up 10% year on year while EBITDA was up 14% year on year. The company delivered GBP 21.4m in EBITDA, a margin of 51%.
In early trading, the shares in the Zoopla Property Group briefly dipped 6% to be trading just 2.3% below the previous close indicating that the market was not overly surprised by the results.
Here is the market release
Zoopla Property Group Plc, the digital media business and operator of leading UK online property portals including Zoopla and PrimeLocation, announces its half year results and KPIs for the six months ended 31 March 2015.
Revenue (£ million)
Adjusted EBITDA (£ million)
Operating profit (£ million)
Adjusted basic EPS (pence per share)
Basic EPS (pence per share)
Number of members
Number of visits (million)
Commenting on today's announcement Alex Chesterman, Founder & CEO of Zoopla Property Group Plc said, "We had a strong first half with both revenues and profits seeing double-digit increases and ARPA at record levels despite the reduction in members during the period. Our audience continued to grow with average monthly visits during the first half at 44.2m and mobile devices accounting for over 60% of these, up 34% year-on-year. We have also reached a significant milestone of over 6m app downloads as consumers continue to choose our websites and mobile apps as their primary resource when researching the property market and looking for their next home.
"We have always led innovation in our sector and the recently announced proposed acquisition of uSwitch, the UK's leading price comparison website for home services switching, is a natural next step in our journey towards being the UK's most useful resource for consumers and most effective lead generation engine for professionals in the property space and we expect this deal to complete in June 2015. We remain focused on providing consumers with the market-leading tools to help them make smarter property decisions and being the most effective partner to property professionals."
Current Trading & Outlook
Our consumer-led approach and proposition is driving strong engagement on our websites and mobile apps as consumers continue to rely on the unique services and data we provide. Since the end of the period, UK agency churn has slowed significantly with a net loss of 106 UK Agency members in April. We expect agency churn to return to normal historic levels over the coming months as we remain by far the best value digital marketing proposition available to property professionals in the UK. The Group is trading in line with management expectations and is well positioned for long-term growth.
Source: Market release