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sure the asset strippers will do a fine job once in the door.
Transaction dependent company - not dependent upon house builder profits so useful diversification as long as housing market does not become 'dormant'
ZPG, owner of comparison site uSwitch, has issued a statement confirming that it has tried to do a deal with rival GoCompare � the comparison website whose TV adverts are fronted by big-moustachioed tenor Gio Compario, in reality the incomparable Wynne Evans. The bid, said to have been worth �460m, was rejected. Sir Peter Wood, chairman of GoCompare, said ZPG�s bid �was highly opportunistic and fundamentally under-values the company and its prospects�. The ZPG statement yesterday said: �ZPG Plc notes the recent press speculation regarding a potential offer for GoCompare Group plc by ZPG. �ZPG confirms that it made an approach to GoCompare on 8 November in relation to a combination of the two businesses and that the approach was rejected. �The Board of ZPG is currently considering its position. �This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any firm offer for GoCompare will be made, nor as to the terms on which any offer might be made. �In accordance with Rule 2.6(a) of the Code, ZPG is required, by no later than 5.00 pm on 12 December 2017, to either announce a firm intention to make an offer for GoCompare in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for GoCompare, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. �This deadline can only be extended with the consent of the Takeover Panel at the request of the Board of GoCompare in accordance with Rule 2.6(c) of the Code. �A further announcement will be made as and when appropriate.� uSwitch information on a property�s likely utility costs is featured on Zoopla�s property listings. http://www.propertyindustryeye.com/zpg-confirms-it-has-approached-gocompare-but-was-turned-down/
ZPG has announced that it has signed a new long-term marketing agreement with Connells, the UK�s second largest estate agency group. Last week, it announced a similar longterm deal with the UK�s largest agent, Countrywide. As part of the new agreement, Connells, which operates almost 600 estate agency and lettings agent branches across the UK, will continue to advertise all of its property listings on the ZPG platform. David Livesey, group CEO of Connells said, �We have worked closely with ZPG for a number of years and our customers benefit greatly from the marketing exposure that our relationship with ZPG generates. �We are happy to be extending this relationship as we continue to focus on serving our clients� best interests and enhancing the digital opportunities for our business.� Alex Chesterman, CEO of ZPG, said: �Connells are an important partner for ZPG and we are delighted to be extending our relationship for the long term. �There are clear opportunities for both businesses as a result of this new agreement. �We look forward to continuing to ensure that Connells� customers get the best exposure for their properties and Connells has access to the most effective services in the market.� We understand from a recent interview with Connells that litigation between it and its brand Gascoigne Halman and OnTheMarket is ongoing. OnTheMarket did not comment but yesterday referred us to Connells. http://www.propertyindustryeye.com/zoopla-signs-up-connells-group-in-new-long-term-marketing-agreement/
Zoopla has reported that its property division is trading strongly, with agents returning to it. In a short trading update, it said it was “very pleased” with current trading. It expects revenues and EBITDA to be towards the top end of expectations when it reports its full-year results on November 29. Yesterday’s statement said: “Our property division has performed strongly, driven by a continuation of returning portal partners, strong demand for our upsell products and further migration of our software partners to cloud-based products. “Our comparison division has also traded well, reaching a new milestone of over 1m household energy switches in a 12-month period and saving consumers almost £300m off their household bills over that period. “In addition, the integrations of both Hometrack and Expert Agent into the wider business have progressed well and underpin future growth opportunities.” ZPG also announced that it has conditionally agreed to acquire financial services comparison website Money.co.uk for £80m plus a performance-based earn-out of up to £60m. Established in 2008, Money allows consumers to compare thousands of deals from over 600 providers across more than 60 product categories including mortgages, loans, credit cards, bank accounts and insurance. The business has over 2m visits per month to its website. Money generated revenues of £24.7m with an adjusted EBITDA of £8m in the year to the end of last October. Money, which is based in Cirencester, Gloucestershire, employs over 50 staff, and will continue to operate as a stand-alone brand headed by founder and CEO Chris Morling. http://www.propertyindustryeye.com/were-still-getting-agents-returning-to-us-says-zoopla-as-it-announces-strong-performance/
We are delighted to announce today that ZPG has acquired Ravensworth, the leading provider of on-demand print and creative marketing services to UK estate and letting agents. This transaction offers unique and exciting opportunities for you and reaffirms our mission to be your most effective partner. Ravensworth specialises in providing integrated print ordering solutions to over 4,500 UK estate and letting agency branches via its state-of-the-art print technology platform. Ravensworth has a comprehensive product offering for every stage of the property marketing journey from listing through to post-sale including design services, brochures, canvassing materials, direct mail, email marketing and branch display products. The acquisition of Ravensworth is a part of our continuing mission to provide the best value and most effective solutions to all UK property professionals. The deal combines Ravensworth’s product offering with our sales, marketing and technology capabilities enhancing our comprehensive 'one-stop-shop' product offering to now include portal, software, website, data and print marketing solutions. Ravensworth offers a complete range of print and marketing services to estate agents and letting agents including: address data, banners, booklets, branch display materials, stationery, calendars, campaign management, canvassing materials, brochures, design services, direct mail/door drops, document folders, greetings cards, email marketing, magazines, moving cards, new home cards, posters, property particulars, vendor brochures and window cards.
ZPG announced record revenues and EBITDA this morning – and said that 750 estate agency branches had returned to it over the past two years. It also announced investment in a new business which will provide an alternative to tenants’ deposits. Revenue was up 22% to £117.9m, and EBITDA leapt 11% to £45m, in the first half of its financial year – the six months to the end of March. There was record traffic to its Zoopla websites, with over 314m visits. However, statutory profit was reduced by acquisition-related costs – ZPG has bought Hometrack and Expert Agent this year, although the latter purchase is now being scrutinised by the Competition and Markets Authority. ZPG also announced that its number of agents was up 6% 14,271 branches, and inventory up 9%, to 928,000 listings. CEO Alex Chesterman said: “We have enjoyed a strong first half to the financial year across both divisions and are delighted to report record revenues and adjusted EBITDA for the period. Our audience grew by 5% with a record 314m visits to our websites and apps and we achieved record levels of brand awareness for both Zoopla and uSwitch. “”We also made good progress on our continued product differentiation with the launch of an innovative new Move Planner tool which provides a one-stop shop for all moving related services and are pleased to announce today a strategic investment in Zero Deposit, a new business seeking to transform the lettings market by providing an alternative to tenant deposits. “Our property division has performed very well, driven by continued portal partner win backs, strong demand for our upsell products and the continued migration of our software partners to cloud-based products. “The integration of Hometrack into the wider business is progressing well.”
Over 400p and now heading for the top of its trend channel at 420p. #bullish
Established in 2003, Expert Agent was the first UK provider to take estate and letting agency software online and provides fully cloud-based software solutions and essential systems for the day-to-day management of inventory, marketing and communications for estate agents and lettings agents across the UK. The acquisition of Expert Agent is part of our continuing mission to provide you with the most useful resources to and be your most effective partner. Expert Agent has a strong track record and experienced management team with deep knowledge of UK property and software markets. Expert Agent will continue to operate as a standalone platform and brand and the team will become an integral part of our Property Services division. Our objective remains to offer you the widest range of tools and most innovative services to provide you with excellent value and service and help you to win more business.
Yesterday ZPG's price fell on a UBS note, but today's price shows what the market really thinks. #bullish PS: LSE has 2 chats for this share: One for ZPG and the other for the old ZPLA. Admins need to merge the 2.
Zoopla have been named as some of the top companies in the UK on the annual Superbrands list. Compiled by the Centre for Brand Analysis, the Superbrands list is split into business and consumer categories with more than 1,500 companies scored on their quality, reliability and distinction.
ZPG sites had its highest amount of visits, at over 53 million and is now offering additional services to their members via their acquisitions alto software, hometrack etc which will all add to their revenues
will become the next rightmove and look where they are ...
g' - u got mail
You can drop me a mail at: garyjnewman at hotmail.co.uk You could well be right about the placing, all depends what comes with the DECC news I think as if it is just that on its own it won't cause much of a rise in my opinion and the SP could well drop afterwards if there is no other major news due for a while. ATB.
just thought i'd catch up with you out of the way - r u contactable on the dog n bone? ps - dunno bout you're experience re placings but mine has been that the sp hits the placing prices & below...but dint wanna come over all negative on xel as think the peeps on there (&rightly so) as pi-ss-ed off enuf!!!
Hello mate, just saw your post on XEL. Will be about on and off this afternoon - sat at my computer doing a bit of work and glancing on here inbetween.