Zoopla reports record profits and rising membership in ‘transformational year’

Zoopla has turned in some pretty solid annual results, with chunky increases in both revenues and profits.

ZooplaPropertyGroup_darkBGRevenue was up 34% to £107.6m in the year to 30th September, while profits rose 20% to hit £25.4m. Most interestingly, however, the portal claims “continuous UK Agency membership growth since May”.

Over 25 million leads were generated for the Group‘s Property partners over the last 12 months, according to the official statement, including “over 300,000 appraisal leads”.

Meanwhile, the Comparison Services division has “outperformed expectations” in the wake of the Group’s £160m purchase of energy comparison site USwitch, delivering “over 9 million leads in four months”.

Alex Chesterman, Founder & CEO: “It has been another transformational year for the business and I am very pleased with our performance as we delivered record revenue and Adjusted EBITDA of £107.6m and £48.7m respectively. We have made great progress towards our vision of becoming the consumer champion at the heart of the home with the acquisition of uSwitch, the leading home services comparison platform in the UK.

“Our Property Services division achieved solid ARPA growth across every vertical – UK Agency, New Homes, Overseas and Commercial – demonstrating the Group‘s exceptional value proposition as one of the most cost-effective digital marketing channels for property professionals. Traffic to our property platform remained strong with high levels of user engagement and we recently passed the significant milestone of over seven million downloads of our property apps.

“We have seen further growth in membership numbers in the Property Services division since the end of the Period. Management is encouraged by the trend of continued UK Agency membership growth over the past seven consecutive months and is confident of delivering further membership and ARPA growth.

“The Group will continue to invest across both divisions and to develop its integrated proposition. Management remains comfortable with market expectations for the 2016 financial year and our next trading update is scheduled on the day of our AGM, 25 February 2016.”

Read the full statement here