Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Online estate agent Purplebricks sees UK profit, eyes Australia market

Published 16/06/2016, 07:34
© Reuters.  Online estate agent Purplebricks sees UK profit, eyes Australia market
PURP
-

(Reuters) - Purplebricks Group Plc (L:PURP), a British online estate agency backed by fund manager Neil Woodford, said its UK business would be profitable in the current financial year and that it would launch its platform in Australia in 2016.

The company, which made its market debut in December, said it had recruited an Australian management team and a maximum planned investment of 10 million pounds ($14 million) would be funded from existing cash resources over the next two years.

Purplebricks, which was founded in 2014 by brothers Michael and Kenny Bruce, reported a wider adjusted core loss of 9.7 million pounds in the year ended April 30.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.