Neil Woodford-backed Purple Bricks says full-year revenue quadrupled
Neil Woodford-backed hybrid online estate agent Purple Bricks expects its full-year revenue to have quadrupled.
The Aim-listed firm said today that its revenue for the full year is expected to be approximately £18.5m, a year-on-year increase of some 445 per cent.
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Trading throughout the second half of the year has continued the strong growth experienced in the first half, it added.
"Our rapid growth in the year demonstrates that customers are increasingly being won over to our hybrid model, which offers high quality service through our experienced local property experts and innovative use of technology, as well as a competitive, flat fee," Michael Bruce, chief executive, said.
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"With solid underpinnings, momentum and the size of the market opportunity, we are confident in proving the business model and delivering value for all of our shareholders."
The company floated on London's junior market last year at 100p per share, and it's currently trader higher 175p.