Zoopla: Property portal returns to the black after cutting almost 100 jobs
Online property portal Zoopla returned to profit during its latest financial year as its sales passed the £90m mark.
Newly-filed accounts with Companies House have revealed that the business swung to a pre-tax profit of £18.7m in 2023, having reported a pre-tax loss of £6.2m in the prior 12 months.
The results also show that Zoopla’s revenue grew from £87.2m to £90.4m over the same period.
However, the accounts also reveal that the average number of people employed by Zoopla in the year was cut from 483 to 388.
A statement signed off by the board said: “The directors believe that Zoopla is a sustainable business that can build on its position as the UK’s most comprehensive property website, helping consumers research the market and find their next home by combining hundreds of thousands of property listings with market data and local information.”
It added: “The company aims to continue its mission of being the platform of choice for consumers and partners engaged in property and household decisions.
“The company will continue to innovate and actively improve current products and develop new products to further improve the consumer and partner experience.”
Loss slashed at Zoopla owner
The results come after Zoopla’s parent company, which also owns Confused.com and Uswitch, slashed its pre-tax loss by almost £600m in 2023.
The organisation reported a pre-tax loss of £134.9m for its latest financial year after posting a loss of £714.6m in 2022. The group’s revenue also surged from £391m to £451.5m over the same period.
The group, which is owned by Silver Lake Partners, also includes brands such as Primelocation, Money.co.uk, Tempcover, Hometrack and Alto as well as Calcasa in the Netherlands.