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Zoopla announces successful 2016 financial results and ‘record revenue’

By Sabine Brix 0 Comments NEWS, Uncategorised

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Zoopla has posted its financial results for 2016, announcing 'record revenue' that marks a successful year for the British property company.

The Chief Executive Officer and founder of Zoopla, Alex Chesterman, said:

"The Group has had another very successful year and we are stronger and more diversified than ever. We delivered record revenues and adjusted EBITDA of £197.7million and £77.1million respectively and continued to grow our huge and highly engaged consumer audience with over 600m visits to our websites and apps during the year.

"We continue to lead innovation in the property and comparison markets as we work towards fulfilling our mission of providing the most useful resources for consumers when finding, moving and managing their home and being the most effective partner for related businesses."

Chesterman also commented on the group's partnership growth and its acquisition of several new companies, the latest being Technicweb.

"Our Property Services division has traded in line with management expectations with ARPA3 growth across every vertical and we have now seen 18 consecutive months of UK Agency partner growth. The acquisition of Property Software Group has been transformational, allowing us to offer the UK's only end-to-end solution for property professionals including software, workflow, CRM and marketing tools. As a Group, we now have significant cross-sell opportunities with over 23,000 unique Property partners taking at least of one of our services.

"Our Comparison Services division has performed very strongly with record levels of switching activity and leads in every vertical helping consumers find the best deals and save over £320m off their energy bills alone during the Period.

"We generated over 53m leads across the Group for our partners during the year, helping them to win more business and operate more efficiently. We have launched a number of new market-leading products as well as investing and partnering with some of the most innovative and relevant technology startups to further enhance and differentiate our proposition.

"We are also pleased to announce today the acquisition of Technicweb, one of the UK's leading estate agency website design and hosting businesses as well as our investment in and strategic partnership with Neos, the UK's first connected home insurance provider."

 

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