The Zoopla Property Group release a market update on the 22nd October confirming to the market that it expects to deliver around £107 million in revenue and £48 million in adjusted EBITDA for FY 2015. This is a growth of 33% in revenues (FY14: £80.2 million) and 21% in adjusted EBITDA (FY14: £39.6 million).
In particular the release highlighted that the Property Services division has performed well with UK Agency membership continuing its return to growth. The Group added a further 146 net new UK Agency branches since our last member update for July, taking total UK Agency members to 12,702 as at the end of the financial year. The Group had 2,706 new home development members, 737 overseas members and 266 commercial members taking the total number of members at the end of the financial year to 16,411.
The release went onto say that management is encouraged by the trend of gradual UK Agency membership growth over the past five consecutive months and is confident of delivering ARPA growth based on the demand from its members for additional products and package upgrades.
The Group will continue to invest in developing its integrated proposition and delivering on its strategy of becoming the consumer champion at the heart of the home. Management remains comfortable with market expectations for FY16.
Ian Springett, Chief Executive of arch rival OnTheMarket.com commented: "Zoopla Property Group’s latest trading update serves to highlight the success of OnTheMarket.com, which is already firmly established as a leading portal.
"The key fact is that over 90 per cent of our member agents moved both their properties and the associated listing revenue from Zoopla Property Group when they signed up to OnTheMarket.com. It is no surprise that its UK agency membership remains 22 per cent down year-on-year or that it has increased by only 1 per cent since its last update for July."