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EYE NEWSFLASH! Zoopla announces record traffic as revenue jumps and agents return

Record traffic and leads to agents have been announced by Zoopla this morning.

ZPG said there were 648m visits and 56m leads in the 12 months to the end of September.

Its property division saw revenue leap by 41% to £122.3m, with the number of member agents jumping by 6% to 14,775 branches.

Average advertising revenue paid per member branch per month was up 5% to £358.

The total number of ‘property partners’ rose 12% to 24,962, with the figure aligning portals and software users. ZPG said that the figure excluded 788 legacy software customers not paying for an active support contract, but included advertising and data partners.

Overall ZPG – whose business includes the comparison website uSwitch – saw revenue up 24%, to £244.5m. However net debt increased to £191.5m as a result of acquisitions. Statutory profit for the year was up 2% after acquisition costs and share-based payments.

Its acquisitions in the year included Hometrack, ExpertAgent and Ravensworth.

ZPG founder and CEO Alex Chesterman said: “We are delighted to have delivered another year of record performance across the business.

“Our property division performed very well, driven by strong demand for our additional products, further migration of our software partners to cloud-based products and a continuation of returning portal partners.”

ZPG said over 1,000 branches had now returned to it, but there was no specific mention of OnTheMarket.

The company said it has grown its headcount by 20% and now employs 882 staff.

Today’s results also reveal the disposal of the domain name Propertyfinder.com

The company also this morning announced the acquisition of Calcasa, a provider of automated property valuations in the Netherlands.

* Separately this morning, LSL issued a trading update saying that its profits this year are likely to be marginally ahead of expectations.

It said group revenues for the ten months ended October 31 increased by 1.1% to £260.9m (2016: £258.0m) with revenue in its estate agency business up by 1.6%. While income from residential sales was down 9% in the period, lettings income was up 4% and financial services revenue up 16%.

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Source:: EYE NEWSFLASH! Zoopla announces record traffic as revenue jumps and agents return