A trading statement recently issued by Purplebricks, claims the online estate agent is experiencing “good progress” and says its revenue in the UK for the first half of 2017 is likely to have been double that of the same period in 2016.
Estate Agent Today repots that the hybrid agency, which had its AGM for shareholders last week, says it now has some 640 Local Property Experts, up by 100 on the figure reported by the firm in June.
The financial statement reads: “Strong progress has been made across the business since the start of the financial year on 1 May 2017. Trading in the UK and Australia remains on course to meet the full year guidance provided at the final results in June: revenues of £80m for the UK and £12m for Australia.
“H1 revenues in the UK are likely to be more than double the same period last year and many times ahead in Australia, although they had only been trading two months in the comparable period. Local Property Experts have recently increased in the UK from 540 as at 29 June 2017 to 640 and from 77 to 100 in Australia.
“On 15 September 2017 the Group launched into the $70bn US real estate market, commencing a region-by-region rollout in the city of Los Angeles. The launch date was ahead of plan and has gone smoothly.”