(Alliance News) - OnTheMarket PLC on Friday said it expects to report annual profit ahead of expectations, driven by a strong operational performance over the second half of its financial year to date.
For the year ending January 31, 2022, adjusted operating profit is expected to be at least GBP2.5 million, edging upwards from GBP2.4 million, as the figure for the second half is set to be positive, instead of breakeven as guided for in October.
In addition, revenue is expected to be slightly ahead of market consensus.
"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. There is a lot more to come and we look forward to delivering this in the year ahead," said Chief Executive Officer Jason Tebb.
Shares in the Aldershot, England-based property search portal operator were down 1.6% at 117.16 pence at Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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