Estate agency Purplebricks has today released a brief trading statement for the six months ended October 31.
Despite a “weakening in the overall UK property market”, with particular slumps in the south east, the company “modestly outperformed expectations” and maintained its overall market share of 4%.
The group said it expect to report an improved marketing-to-revenue ratio as “planned efficiencies are now being realised.”
Revenue is still reported as “broadly flat” relative to the same period last year. However, significant losses incurred in the previous period have been reversed, with the company now operating at a profit in the first half of the financial year.
The company will announce its interim results on 12 December 2019.