OnTheMarket PLC’s revenues better than expected
The estate agent-owned website also forecast a profit in both the half and the full year
OnTheMarket said its operational performance continued to be strong recently and revenues will be ahead of previous expectations.
The estate agent-owned website also forecast a profit in both the half and the full year of the current fiscal period helped by a switch to capitalising development spending rather than expensing it.
“The group now expects adjusted operating profit to be positive in H2 21/22 and to be at least £2.5m for the full year FY 21/22,” said a statement today.
Jason Tebb, chief executive, added: “We are pleased to be reporting a strong performance and further operational progress in keeping with our objective of building a tech-enabled property business.
“We achieved a great deal in 2021, culminating in the launch of our new website and branding which have been well received by agents and serious property seekers.”
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