25 Feb 2016 07:00
25 February 2016
ZOOPLA PROPERTY GROUP PLC
AGM TRADING STATEMENT
Zoopla Property Group Plc (LSE: ZPLA) (the "Group") the digital media and lead generation platform that owns and operates some of the UK's leading online consumer brands including Zoopla, uSwitch and PrimeLocation announces a trading update for the period 1 October 2015 to 31 January 2016 (the "Period") ahead of the Group's Annual General Meeting to be held at 10.00 a.m. today.
The Group has had a solid start to the financial year, attracting over 47 million average monthly visits to its websites and mobile apps during the Period and a record audience of over 58 million visits in January. In the Property Services division, the number of partners continued to grow with the Group adding 261 net new partners, taking the total number to 16,672 at the end of the Period. January marked the ninth consecutive month of growth in the number of UK Agency partners to 12,841 at the end of the Period.
The Comparison Services division has enjoyed strong switching volumes across each of the Energy, Communications and Financial Services verticals and January saw near record levels of energy switches following the announcement by some suppliers of price reductions. The Group continued its mission of educating consumers about the value of price comparison with the launch of two new uSwitch national TV campaigns focused on energy and broadband switching.
During the period, the Group made further progress of integrating its divisions and developing its products and Management look forward to the rollout of a number of new and innovative products during 2016.
Current trading and outlook
Since the end of the Period, the Group has performed well with the number of partners in the Property Services division continuing to grow and in Comparison Services, energy switching experiencing strong activity as further suppliers have announced planned price cuts.
Management remains comfortable with financial year 2016 market expectations for the Group and we look forward to updating the market further at our half year results on 25 May 2016.
Alex Chesterman, Founder & CEO of Zoopla Property Group Plc said, "I am pleased with the Group's solid start to the financial year. In Property Services we have now seen nine consecutive months of partner growth and experienced record levels of traffic in January. Comparison Services has performed particularly well as we continue to help consumers save money off their household bills. Our recently announced investments and strategic partnerships with some of the most-promising players in the PropTech space reaffirm our commitment to leading innovation and will serve to further strengthen our proposition."
For further information, please contact:
Zoopla Property Group Plc
Lawrence Hall, Head of Communications - lawrence.hall@zpg.co.uk / 07890 078 945
Rachael Malcolm, Head of Investor Relations - rachael.malcolm@zpg.co.uk / 07774 671 082
Maitland
James Isola 020 7379 5151