Partly Cloudy

Partly Cloudy

max temp: 1°C

min temp: 1°C

ESTD 1874 Search

Property: Increased traffic and profits for online search company Zoopla

18:36 06 May 2014

Zoopla has reported record traffic levels on its websites during the six months to March 31.

Zoopla has reported record traffic levels on its websites during the six months to March 31.

PA Wire

Online property search firm Zoopla said today it achieved record levels of traffic across its sites in the first half of its financial year as the housing market continued to improve.

The company, which also includes the Primelocation, SmartNewHomes and HomesOverseas brands, and whose technology also powers Archant’s www.homes24.co.uk website, reported a 37% surge in traffic to its own sites during the six to March 31, with 39.9million average monthly visits.

Zoopla added that its profits rose 26% during the period to £18.7m, while revenues lifted by the same percentage to £38.3m.

There has been market speculation that Zoopla will be among the next property companies to go public, following Foxtons’ successful float last year. This could value the company at more than £1billion.

A float at around this price could net founder and chief executive Alex Chesterman, who started the firm seven years ago, a fortune of £100m.

Zoopla has benefited from rising house prices and transaction levels, as the improving property market has been buoyed by Government initiatives such as the Help to Buy scheme.

The company, majority owned by Daily Mail & General Trust, makes money by charging estate agents and other property firms subscription fees to advertise their listings across its sites.

Mr Chesterman said: “More and more consumers rely on our websites and mobile apps to both search for properties and research the market. We remain focused on building a sustainable and profitable business.”

Search hundreds of local jobs at Jobs24

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

The new-look Marlows store in Bury St Edmunds, featuring the company's new branding.

Home and garden products retailer Marlows has completed the first phase of a £1m redevelopment and refurbishment at its 3.5-acre site in Bury St Edmunds.

Digby Chacksfield , CEO of The Eastern Enterprise Hub in the James Heir  building at UCS.

The Eastern Enterprise Hub is launching a pilot scheme in Colchester to help budding entrepreneurs launch health and social care projects.

Flow Energy

An Ipswich business which started out with four employees in 2012 and now boasts a workforce of 240 is seeking to recruit new customer account managers to join their customer service team.

A Royal Bank of Scotland branch in London.
Photo: Dominic Lipinski/PA Wire

Royal Bank of Scotland (RBS) has reached a “final settlement” with three out of the five shareholder groups bringing compensation claims against it in connection with its 2008 rights issue.

The Suffolk Young Chamber at Sir John Leman High School. From left,  Kevin Keable, Sir John Leman School, Ashleigh Seymour-Rutherford, Suffolk Young Chamber, Jeremy Rowe, Sir John Leman School, Molly Ellis, head girl of Sir John Leman School; Tom McGarry, Sizewell C Head of External Relations, Allison Copeman, Sir John Leman School, Michael Taylor, Sir John Leman School, Elliot Fen, head boy of Sir John Leman School.

More than 50 business leaders attended an event at Sir John Leman High School in Beccles to mark the start of EDF Energy’s patronage of Suffolk Young Chamber.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24