Home Shares Zoopla owner ZPG sees profits rise by a third

Zoopla owner ZPG sees profits rise by a third

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Zoopla owner ZPG sees profits rise by a third

Property sales site owner ZPG (LON:ZPG) announced a 31 percent rise in profits on Wednesday, benefitting from a 33 percent boost in sales.

ZPG, the owner of Zoopla, Prime Location and Uswitch, saw pre-tax profits hit £29.5 million for the six-month period to March 31, with sales up 33 percent to £156.9 million.

Bad weather actually benefitted the company, in contrast to many of the high street groups reporting today, with more consumers turning to Uswitch to search for cheaper energy providers to combat the weather.

“Our property division performed well across each vertical, helped by demand for additional products, cross-sell and new contract wins, including the continued return of agents to our portals,” said ZPG’s founder and chief executive Alex Chesterman.

“Our comparison division also performed well with leads up across each vertical. Energy had an exceptionally strong first half as a result of ongoing optimisation of the consumer journey and extreme weather during the period, prompting increased switching levels.”

ZPG shares are currently up 0.12 percent at489.60 (0935GMT).