Zoopla’s share price edges upwards as it announces operating profit will be at the top end of expectations
Online property portal Zoopla – a favourite among those who enjoy window-shopping for homes – said today that its operating profit will come out at the top end of its expectations this year.
Zoopla's share price edged up 1.5 per cent in early morning trading on the news.
The company owns several of the UK's digital platforms, including uSwitch, PrimeLocation and Property Software group. Today it said it will continue to invest in product development and marketing.
The number of Zoopla's partners is growing, and it now lists 925,000 properties as of the end of August – an increase of five per cent year-on-year. Across all of its websites, Zoopla attracts more than 50m visits every month.
Read more: Here's what will happen to house prices this year, according to UBS
Zoopla's comparison service "continues to outperform", the company said, as homebuyers increasingly want more information about how much they will be paying for energy and broadband in their homes. There was a "particularly strong performance" in the energy part of the comparision business, Zoopla said.
Zoopla's comparison services businesses includes uSwitch, which it bought for £160m in April last year.
The company will host its first capital markets day – opening up the business to analysts – on 15 September.
In the months after the Brexit vote, the housing market has become increasingly confusing. The decision to leave the European Union has left many wondering if they can get a good deal on a house, with some automatically asking for 10 per cent off when they put in an offer on a property.