Regional News

Zoopla reports rising profits as £2.2bn takeover comes into view

By Editor 0 Comments NEWS, Regional News

ZPG, the company which owns UK-based property portal, Zoopla recently reported rising profits as it prepares for a £2.2bn takeover by US private equity firm Silver Lake Management.

The company reported a 31 percent rise in pre-tax profits to £29.5m in the six months to March 31, while sales rose 33 percent to £156.9m.

ZPG saw almost 350 million visits across the group’s platforms, with the cold snap earlier this year prompting increased switching on the group’s comparison website.

Earlier this month the group revealed that Silver Lake had tabled a 490p per share offer for the firm, valuing it at £2.2bn.

The deal has received the backing of ZPG’s largest shareholder, Daily Mail and General Trust (DMGT).

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