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ZPG reveals record growth, 750 returning agents plus lettings and mortgage launches

Busy six months of trading revealed by the Zoopla and uSwitch parent company.

Nigel Lewis

ZPG has reported record results in its half year results for the six months ended 31st March. This includes revenues up by 22% to £117.9 million, and profits that have increased by £25 million.

The company also says it has seen “accelerated win backs” from OnTheMarket.com and that over the past two years the number of agents returning to the fold now totals totals 750.

Over the past six months ZPG has also grown its branches list by 6% to 14,271 and its inventory by 9% to 928,000 listings.

This caps a busy year for the company which has been expanding its vertical integration through the industry with the acquisition of data firm Hometrack, which ZPG say now services 17 out of the top 20 banks, and agent software outfit ExpertAgent.

But these acquisitions have cost it dearly – debt at ZPG is now £209.3 million, borrowing which has also reduced its profits for the six month period.

Mortgages

ZPG has also revealed that it now has a mortgages team, part of a plan to expand its presence in the home financial services market.

Traffic to its website and apps grew by 5% to 314 million visits and the company also claims record awareness of its Zoopla and uSwitch brands.

Lettings launch

ZPG has also invested in yet another business, called Zero Deposits which it says is “a new business seeking to transform the lettings market by providing an alternative to deposits”.

Alex Chesterman“We remain incredibly excited by the underlying growth across each of the business divisions, our recent acquisitions and the significant cross-sell opportunities to our highly engaged consumer audience and our unrivalled partner base,” says ZPG’s CEO Alex Chesterman.

The results make no mention of the ongoing Competition and Markets Authority’s investigation into ZPG’s acquisition of ExpertAgent, which was called in buy the CMA at the end of March.

May 24, 2017

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