Hybrid estate agency Yopa has posted its latest trading results which show the company has reduced its operating losses to £500,000 from £3.2 million last year after revenues increased by 29% to £27.2 million.

Gross profit was £12.6 million, up by over 50%, covering 12 months of trading to the end of September.

Yopa also says other dials within the business are showing promising growth including the number of people including the firm in valuation invites up by 10%, which it says it down to national marketing and local lead generation efforts.

Others include a 15% increase in properties listed for sale, sales agreed up by 19% and completions up by 23%.
Increased turnover has also been enabled by the firm’s ancillary services arms including legal and financial services, including a mortgage selling arm bolstered by extra broke headcount and training, which drove a 77% increase in revenue.

The company says its recently-launched Associate model now has 35 people signed up after careful testing of the model, which will now be rolled out more comprehensively across the UK next year.
And Yopa is also developing an AI integration strategy which will be used to drive greater efficiency across the business.

Key metric

“It’s been another outstanding year for Yopa, with growth across every key metric of our business in accordance with the five year strategy we implemented at the start of 2023,” says CEO Verona Frankish.

“We’ve continued to invest wisely, balancing innovation and financial discipline, the result of which has been growth in revenue, gross profits, instructions, completions and a significant narrowing of our operating loss margin.”