Hybrid British property portal giant, Purplebricks, has recently announced a 20% revenue growth in its UK business in the six months to the end of October.
Despite a step-up in UK profitability measured as EBITDA, its group operating losses widened.
CEO Michael Bruce said he was confident that the success of the UK business will be replicated internationally.
Purplebricks said its strong UK performance was driven by double-digit growth in instructions, with a 6% growth in average revenue per instruction as customers bought ancillary products.
It said its market share of the online/hybrid sector was 74% in October, despite increased competition.
It also achieved ‘aided’ brand awareness of 97% and unaided awareness of 48%.
Altogether, it said UK revenue was up 39%, to £48.3m, with ancillary revenue up 25%. Adjusted EBITA in the UK was £8.4m, up from £2.3m in the first half of its financial year. UK operating profit was up 638% to £5.7m.
While it did not give actual sales numbers, Purplebricks said that in the six months to the end of October, it completed on £5.4bn worth of UK property, up from £4.6bn in the previous six months.
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