May 24, 2017 / 6:27 AM / 2 months ago

Revenues rise at Zoopla as traffic hits record high

1 Min Read

LONDON (Reuters) - British property group ZPG plc, which owns property websites Zoopla and PrimeLocation, posted a 22 percent rise in half-year revenue as traffic to its sites hit a record high and the number of agents signed up to its platforms rose.

Revenue hit 117.9 million pounds in the six months to the end of March.

But half-year profits fell 25 percent due to the acquisition of market intelligence tool HomeTrack, which took place at the start of the year.

Full-year pre-tax profit is expected to rise 9 percent to 50 million pounds in the year to the end of September according to a Thomson Reuters poll of nine analysts.

The firm said traffic to its sites hit a record high of 314 million visits in the period and agents rose 6 percent to 14,271 branches, as the portal wins back agents from rival OnTheMarket.

Reporting by Costas Pitas; editing by Kate Holton

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