Zoopla to hit top end of profit forecasts as online property listings soar
Zoopla profits are on track to hit the top end of forecasts, the home-selling website said as it revealed a surge in property listings online.
The firm expects annual earnings to be at the top end of a £69 million to £76 million range.
Zoopla, which is behind price comparison site uSwitch and PrimeLocation, said its property services division is trading in line with expectations.
It added that its comparison services arm “continues to outperform”.
Last month it had 13,275 companies listing on its sites, and the number of properties listed was 925,000 — up 5% on August last year.
The City welcomed the update, sending shares up 3.7p to 330.10p.
Elsewhere in the residential market, estate agency group Hunters revealed sales rose 26% to £6.6 million in the six months to June 30. It added that it expects growth to continue in the second half.
The upbeat updates will help to allay concerns that Britain leaving the EU would freeze the housing market.
Earlier this week, housebuilder Redrow also said that the Brexit vote had not weakened trading.
