Vic Darvey - who earlier this year took over as Chief Executive after Founder Michael Bruce left the company - made the defense of the company’s future in a short interview with the Sunday Telegraph.
After a period of share sales and purchases in which German publisher Axel Springer ended up with a 27 percent stake in the company, Darvey told the paper the company was “absolutely not” for sale.
“We believe the hybrid market place can get to 20 to 30 per cent [market share] in the next five years and they [Springer] believe in that.”
— Vic Darvey, Purplebricks UK CEO
The firm lost £56 million in the year to April and shares have fallen 80 percent from their 2017 peak.
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