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Purplebricks Group Plc

INTERVIEW: Purplebricks Group Plc Interesting time for Investors

Purplebricks Group Plc (LON:PURP) is the topic of conversation when Robin Savage caught up with DirectorsTalk. Robin talks us through the key points made in the the AGM statement, explains why there are so many critics and shares his thoughts on if now is a good time to invest in the company.

Purplebrick’s AGM trading update confirms that it has made a “strong start” to the current financial year to 30 April 2018 and “trading in the UK and Australia remains on course to meet full year guidance provided at the Final results in June: revenues of £80m for the UK and £12m for Australia”. Net cash at 30 August 2017 was £65m.Purplebrick’s AGM trading update confirms that it has made a “strong start” to the current financial year to 30 April 2018 and “trading in the UK and Australia remains on course to meet full year guidance provided at the Final results in June: revenues of £80m for the UK and £12m for Australia”. Net cash at 30 August 2017 was £65m.
Interim results to 31 October, due on 13 December, should be impressive:

* UK – 19% growth in LPEs in the past 3 months ­
– LPEs have increased to 640 (June 2017: 540);­
– Revenues probably “more than double the same period last year”;
* Australia – 30% growth in LPEs in the past 3 months ­
– LPEs increased to 100 (June 2017: 77);­
– Revenues will be “many times ahead” of last year;
* US – “ahead of plan”, “encouraging initial response”­
– “Website visits and valuation booked exceeded both UK & Australia at the same period in their development”;­
– “First buy-side mandate soon after launch went live.”

The CEO’s commentary refers to “the culture and breadth of talent within [Purplebricks]”, the continued investment in “infrastructure and team to support [the group’s] rapid growth, while [management’s] focus will remain on providing an excellent customer experience.”

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