Jason Tebb of OnTheMarket: Result show a strong financial performance with record revenues and profits
Episode 1526, Jul 10, 2023, 07:43 AM
Jason Tebb, CEO, & Simon Bullock, Interim CFO of OnTheMarket #OTMP discuss their Final Results for the year ended 31 January 2023, in which they reported a strong financial performance achieving record revenues and profits, EBITA up 81% to £3.8m & cash up 35% to £11.3m.
Highlights
- Record Group revenues and profits with continued strategic progress.
- Group Revenues up 14% and ARPA up 12%, reflecting growth in paying customers, strong product sales and continued strong growth in New Homes (up 60%).
- Adjusted operating profit up 59% to £4.3m (2022: £2.7m) driven by revenue growth across all income streams.
- Strong balance sheet, with year-end cash of £11.3m and no borrowings (31 January 2022: £8.4m and no borrowings).
- OnTheMarket Software incurred an impairment charge of £1.5m.
- Cash generated from operating activities of £7.9m representing operating cash conversion of approximately 99% of adjusted EBITDA.
- Traffic and leads reduced year-on-year reflecting an abnormally buoyant property market in the first half of the previous year and a strategic focus on serious property seekers and high-quality leads resulting in a significant increase in valuation opportunities, up 26% on prior year.
To read the full RNS click here
Highlights
- Record Group revenues and profits with continued strategic progress.
- Group Revenues up 14% and ARPA up 12%, reflecting growth in paying customers, strong product sales and continued strong growth in New Homes (up 60%).
- Adjusted operating profit up 59% to £4.3m (2022: £2.7m) driven by revenue growth across all income streams.
- Strong balance sheet, with year-end cash of £11.3m and no borrowings (31 January 2022: £8.4m and no borrowings).
- OnTheMarket Software incurred an impairment charge of £1.5m.
- Cash generated from operating activities of £7.9m representing operating cash conversion of approximately 99% of adjusted EBITDA.
- Traffic and leads reduced year-on-year reflecting an abnormally buoyant property market in the first half of the previous year and a strategic focus on serious property seekers and high-quality leads resulting in a significant increase in valuation opportunities, up 26% on prior year.
To read the full RNS click here