Profits increase at Zoopla

Photo credit : David Cheskin/PA Wire
Photo credit : David Cheskin/PA Wire
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Property website Zoopla reported a 38 per cent increase in annual pretax profit and said it was well placed to withstand any negative impact caused by the Brexit vote.

The portal, which posted profit of £46.2m in the year to the end of September in line with analysts’ forecasts, said it was comfortable with expectations for 2017, when further growth is anticipated.

“The directors believe that the group’s multi-channel, multi-brand strategy creates a diverse revenue base which means it is well placed to minimise any negative impacts (from the June 23 referendum),” the firm said.

Zoopla also said it had acquired estate agent website design and hosting business Technicweb.

Alex Chesterman, founder and CEO of Zoopla, said: “The Group has had another very successful year and we are stronger and more diversified than ever. We delivered record revenues and adjusted EBITDA of £197.7m and £77.1m respectively and continued to grow our huge and highly engaged consumer audience with over 600m visits to our websites and apps during the year.

“We continue to lead innovation in the property and comparison markets as we work towards fulfilling our mission of providing the most useful resources for consumers when finding, moving and managing their home and being the most effective partner for related businesses.”