| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
OnTheMarket upgrades annual earnings, revenue guidance
StockMarketWire.com
|
Property portal OnTheMarket upgraded its earnings and revenue guidance, citing a strong performance over Christmas and through January.
Adjusted operating profit for the year to 31 January was now expected at around £2.3 million, swinging from a year-on-year loss of £9.2 million, on revenue of £23 million.
The company previously had guided for adjusted operating earnings of £1.5 million on revenue of £22.5 million.
Net cash at 31 January was £10.7 million.
'These expected results reflect the measures taken during the year to support agents through customer discounts, whilst at the same time reducing costs and conserving cash, particularly through a reduction in marketing expenditure,' OnTheMarket said.
Looking forward, it said that while it continued to monitor the impact of Covid-19, it expected marketing expenditure to return to more usual levels in the year to 31 January 2022.
'With a strong balance sheet and anticipated continued growth in the revenue-generating customer base, the company is also planning to increase investment in new products and services and to invest further in internal website development resources,' the company said.
At 8:51am: (LON:OTMP) Onthemarket Plc share price was 0p at 105p
Story provided by StockMarketWire.com
|
|
|
|
|
|
