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17 Dec 2015 07:00
Hardman & Co issues research report on Purplebricks Group
Unique model captures dominant market share: Purplebricks is a 24 hour estate agency, combining technology and customer facing software with local property experts (LPEs) to create something better, more convenient, transparent and significantly cheaper for sellers and landlords. Since launch in April 2014 it has captured over 60% of the online market and even become the 4th largest UK estate agent. Its first mover advantage provides substantial scope for growth and suggests the share valuation is modest. Moreover, the management team have extensive public company experience, estate agency expertise and a track record of building fast-growing businesses. These metrics have supported a successful IPO today, raising £22.8m net new money (£58m in total) to enhance strong growth.
Please click here for the full report:
http://www.hardmanandco.com/system/files/research_papers/Purplebricks%20Dec15_0.pdf
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About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
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