Purplebricks Group Plc (LON:PURP) is the topic of conversation with Zeus Capital research director Robin Savage. The the hybrid estate agent providing a new way to buy, sell or let property, announced yesterday its interim results for the six months ended 31 October 2016. Robin talks about the increase in revenue, making significant profits, additional shareholder value being created through Australian business and share price expectations over the next 6 months.
Robin Savage joined Zeus Capital in November 2015 as Research Director with focus on Financial Stocks. Prior to Zeus, Robin and the FIG team worked as Corporate Broker to companies including Rathbones, Brewin Dolphin, Charles Stanley, Mattioli Woods, Polar Capital, City of London Group and Mortgage Advice Bureau. Over the past decade Robin has worked on 8 IPOs which have delivered total shareholder returns of over 20% p.a., namely Rightmove in 2006, Secure Trust Bank in 2011, Foxtons and Arrow Global in 2013, OneSavings Bank, River & Mercantile Group, Zoopla and Mortgage Advice Bureau in 2014. Robin originally qualified as a chartered accountant with Coopers & Lybrand in London.
Purplebricks Group Plc is the leading next generation estate agency in the UK, combining highly experienced and professional Local Property Experts and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. The company is transforming the way people perceive estate agents and estate agency. Unlike traditional agents, where customers only pay upon the sale of the property, which effectively means that those that do sell pay more in order to cover the costs of those that do not sell, Purplebricks believes it is more equitable that everyone should pay, charging a flat fee at instruction. This helps to avoid the industry issue of timewasters and those that are merely ‘testing the water’ and underpins the low, flat fee model.