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Purplebricks Group plc

Purplebricks sales rocket as sluggish housing market ‘shakes out’ rivals

Purplebricks has reasserted its dominant grip on the UK online estate agency market, reporting a 20pc surge in half-year revenues despite a slowdown in the wider sector.

The Aim-listed company said it had maintained its 74pc share of the online market in an investor update that came after rival Emoov put itself up for sale after running into financial problems last week.

Michael Bruce, chief executive, said the sluggish market had led to a “shakeout” in the industry, “highlighting weaknesses in both some traditional and online agents business models”.

 

Purplebricks Group plc (LON:PURP) engages in estate agency business in the United Kingdom and Australia. It provides services relating to the sale of properties. The company was formerly known as New Broom Limited and changed its name to Purplebricks Group plc in December 2015. Purplebricks Group plc was incorporated in 2012 and is headquartered in Solihull, the United Kingdom.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.