New OnTheMarket Figures Show Improvement Being Sustained

July 27, 2021
Share this Post: 

British #3 portal OnTheMarket has today released a statement ahead of its AGM with figures showing that it has sustained the improvements in some key metrics which were seen in the company's yearly report released last month.

In a statement released to investors, the majority agent-owned real estate vertical firm highlighted the second-highest monthly visitor figures for June 2021 (28 million) as well as an uptick in monthly leads per advertiser (up to 137, a rise of 5.4% on the preceding 6 months).

Also highlighted in the statement was the company's increase in agent advertisers - a figure which has grown 4.5% since January and now stands at 13,289 and appears to gradually be catching up with those of Zoopla and Rightmove.

At the AGM Non-Executive Chairman Christopher Bell is expected to remark that the company's financial year was

"a year of strong performance and considerable progress. We were delighted to achieve our first year of profitability since admission to AIM, notwithstanding the onset and impact of the COVID-19 pandemic. It is particularly pleasing to report that, from the foundations established, our strong performance has continued in the current year with further operational progress made and trading in line with the Board's expectations."

"We will continue to invest in the business to take advantage of our growth opportunities whilst remaining focussed on careful management of cash. Our balance sheet remains strong and at the end of June, our cash balance, after completing the acquisition of Glanty Limited, stood at £9.7 million and we had no borrowings."

OnTheMarket seems to have put aside the controversy that surrounded the portal in the years following its launch in 2015. The company was famously involved in a high profile legal battle against one of its customers regarding the infamous "one other portal rule" in 2018 and in March 2020 controversial CEO Ian Springett was let go.  Springett was eventually replaced by ex-agent Jason Tebb who has been forthright in his communication with agents.

July 27, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Proptech Group Results Generic
PropTech Group Shows Impressive Growth in Q1 Figures

The ASX-listed property technology group The PropTech Group has released figures for Q1 of its FY22 operations. Headline figures from...

Read More
Bien Ici Paris
Bien’ici Debuts New Elixir Property Platform

French property portal Bien’ici has launched a technology platform focused on sales of new property projects. Elixir aims to provide...

Read More
Funda
Dutch Portal Funda Acquires Commercial Player RealNext

Dutch commercial property platform RealNext has been acquired by NVM in a move that will see its assets incorporated into...

Read More
Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More

Popular News