Zoopla enjoys record traffic after IPO debut
ONLINE property giant Zoopla said yesterday that it saw traffic to its websites and apps jump by one-third in its first trading update since its £900m stock market float in June.
The company, owner of PrimeLocation, SmartNewHomes and HomesOverseas, said it had an average of 45.5m monthly visits in the four months to 31 July, up 34 per cent compared with last year.
Smartphones and other mobile devices now account for over half of its monthly visits, a jump of 86 per cent over the past year, as aspiring homebuyers spend more time browsing at work and on the move.
The number of advertisers has grown by six per cent over the past year to 19,535 members, of which 16,460 are UK agency branches, 2,637 are new home developments and 438 are overseas agencies.
Zoopla said growth in average revenue per advertiser (ARPA) over the period “has been consistent with expectations”.
Shares in the company, which floated at 220p in June, closed at 250p last night with a market capitalisation of around £1.04bn.
Zoopla’s chief executive and founder Alex Chesterman, who made £32m from the property portal’s market debut, said the group remained confident of meeting its full-year forecasts.
Jefferies stuck to its forecasts following the update, predicting earnings before interest tax depreciation and amortisation of £38.6m this year.