Zoopla improves FY profit, dividend

Zoopla has improved its FY pretax profit of £46.2m, from a profit of £33.6m. It reported a good start to the new financial year across both divisions.

Revenue was £197.7m, from £107.6m. Zoopla proposed a final dividend of 3.7p a share, from 2.5p.

OUTLOOK

"Zoopla has had a good start to the new financial year across both divisions," it said in a statement.

"In our Property Services division, the Group's compelling and unique proposition which helps property professionals to manage, market and maximise their business, continues to resonate.

"Management is encouraged by the continued trend in UK Agency partner growth, with over 600 branches having now returned over the past 18 months.

"The Comparison Services division has performed well, as expected, since the end of the Period as consumers increasingly become aware of the benefits of switching.

"The Group will continue to invest across the business and develop further products in line with our vision to be the consumer champion at the heart of the home.

"Although it is early in the year, Management remains comfortable with market expectations4 for the 2017 financial year. Our next trading update will be on 2 February 2017, the day of our AGM."

RESULTS HIGHLIGHTS:

- Acquisition of Property Software Group creates UK's only end-to-end solution for property professionals

- Continued UK Agency partner growth up 5% (ex-Property Software Group) and listings inventory up 10%

- Total number of unique Property partners including Property Software Group at 23,101 at the end of the Period

- Outperformance in Comparison Services division with record levels of switching activity across every vertical

- Strong traffic with over 600m visits to the Group's websites and mobile apps, of which 68% via mobile

- Over 23m leads generated during the Period for Property partners including 350,000 property appraisal leads

- Comparison leads up 22% over same period last year to 30.3m, helping consumers save over £320m

- Invested in and partnered with a number of leading and innovative sector relevant tech start-ups

- Developed market-leading new products for consumers and partners such as Running Costs and MoveIT

- Relocated into our new Group headquarters bringing all our London-based teams together under one roof

- Proposed final dividend of 3.7p per share, bringing total dividend for the Period to 5.2 pence per share

- Since the end of the Period the Group has: Acquired leading cloud-based estate agency website design business, Technicweb; Invested in and signed partnership with connected home insurance provider, Neos.