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OnTheMarket chairman says portal ‘going in right direction’

Group finished the year with £8.4m in the bank and says housing market outlook is upbeat despite looming economic clouds.

Robyn Hall

image of town hall meeting

OnTheMarket has made a positive start to the year with market activity remaining high and demand for properties significantly outweighing supply, despite ongoing concerns in the wider economic environment.

bell otmChristopher Bell, non-executive chairman, will tell the group’s Annual General Meeting later today, that its financial year to 31 January 2022 saw another year of ‘significant strategic progress, with financial and operational performance and substantial, loyal advertiser base providing us with a resilient base for continued growth’.

OnTheMarket had year-end cash of £8.4m and no borrowings following the acquisition of Glanty alongside other strategic investments and full furlough scheme repayment in the period.

“We were also pleased that, at a general meeting on 26 May 2022, shareholders approved a proposal which provides OnTheMarket with greater flexibility to pay dividends to shareholders should the Board consider it appropriate in the future to do so,” Bell will tell the meeting.


The Group is also working on a new sustainability strategy after appointing external climate consultants to calculate and benchmark its carbon footprint.

OnTheMarket has a ‘4 Pillar Strategy’ focussing on its portal, software solutions including the development of a CRM system, data and market intelligence and communications and marketing including a new TV advert to generate leads.

It was also announced today that some agents who signed new long-term listing agreements are in for a share windfall after the Group released 170,041 ordinary shares, taking the total number of ordinary shares and voting rights in the company to 75,123,326.

July 26, 2022

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