Property News · December 14, 2018

First-half losses double at Purplebricks as housing market stalls


Online estate agent’s shares down 12% after it cuts full-year revenue forecast to £175mFirst-half losses have more than doubled at Purplebricks as the online estate agent warned that it saw little prospect for immediate improvement in the UK property market.Purplebricks made a pre-tax loss of £27.3m in the six months to 31 October, up from £11.4m in the equivalent period last year. The company, listed on the AIM junior stock market, lowered the upper end of its full-year revenue forecast from £185m to £175m. Its shares slumped by 12% to 131.5p, which means the company has lost nearly three-quarters of its value from its 2018 peak of 489p. Continue reading…

Source : theguardian.com
Read more…First-half losses double at Purplebricks as housing market stalls

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