OnTheMarket.com has posted strong profits for the first half of the year.
Revenues jumped 46% to £14.9m, whilst adjusted operating profit surged 163% to £2.1m. Traffic to the website jumped by 36%.
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Jason Tebb, CEO of OnTheMarket, commented on the “strong financial performance, operational growth and real progress with our strategic objective of building a differentiated, tech-enabled property business.”
Shares in the group are down 20% this year to date, however, the group has increased its full-year revenue forecast and said it is expected to be “substantially ahead of expectations”.