Zoopla earnings to hit 'top end' of forecasts

8th Sep 2016 07:30

(ShareCast News) - Zoopla Property Group said full year operating profits will be at the top end of current market expectations thanks to solid property trading and outperformance from its price comparison website in the third quarter.The core property services division had traded in line with expectations, with UK estate agency partner numbers up 5% year-on-year to 13,275 by the end of August and property listings increasing by the same percentage to 925,000.Price comparison site uSwitch "continues to outperform", led by energy utility switching, the company said, which was driven by a continued supply of competitive offers from suppliers and a supportive regulatory environment.The company added: "ZPG continues to invest in product innovation and marketing across both divisions and Management will provide a detailed update on the Group's strategy at its maiden Capital Markets Day on 15 September 2016 in London."