OnTheMarket's 2022 Revenue of £34m 'In line with expectations'

January 25, 2023
Share this Post: 

The British property portal OnTheMarket is expecting to announce full-year revenue of around £34m for the year ending 31st of January 2023.

The company, which is listed on the London Stock Exchange, released an unaudited trading update this morning which expects revenue to be between £34m and £34.5m for the year, an increase on the previous year's figure of £30.4m.

The missive also gave the expected adjusted operating profit of between £4m and £4.5m (FY21: £2.7m) citing operation cost discipline for the expected increase.

The past 12 months have seen the majority agent-owned OnTheMarket announce a string of partnerships to help its customers and pursue its strategy of moving into the agent software market, releasing its long-awaited CRM product 'TecCRM' in November.

"We have made significant progress with our strategy of building a tech-enabled property business and are pleased to continue to be delivering strong growth and profitability. We have also been pleased with the progress we have made in renewing contracts with our agent customers.

Whilst market conditions remain challenging, we are well placed with the exceptional value we continue to offer agents and housebuilders alongside our growing range of additional products and services and with more to come in 2023", said CEO Jason Tebb.

The company is expected to release its fully audited report for the financial year in June.

Below, watch OnlineMarketplaces.com's exclusive interview with Jason Tebb from October 2022.

January 25, 2023
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More