Purplebricks Group plc the leading hybrid estate agency providing a new way to sell, buy or let property, today announces a trading update for the year ended 30 April 2016 ahead of reporting its final results on 16 June 2016.
Trading throughout the second half of the year has continued the strong growth experienced in the first half. Revenue for the full year is expected to be approximately GBP18.5m, a year-on-year increase of some 445%.
The recruitment of Local Property Experts (LPEs) is ahead of plan, with 205 LPEs at the end of April, while customer service continues to be rated excellent, averaging 9.4 from over 5,000 Trustpilot reviews.
The Company is on course to meet the board’s full year expectations.
Commenting on the results, Michael Bruce, Chief Executive, said: “Our rapid growth in the year demonstrates that customers are increasingly being won over to our hybrid model, which offers high quality service through our experienced Local Property Experts and innovative use of technology, as well as a competitive, flat fee.
“We enter the new financial year with the benefits of a full national rollout, a growing brand presence, upgraded technology through the recent launch of the Purplebricks’ app, the in-house Data Sales Unit and a strong cash position. With solid underpinnings, momentum and the size of the market opportunity, we are confident in proving the business model and delivering value for all of our shareholders.”
