OnTheMarket plc OnTheMarket delivers another month of record leads
September 10 2020 - 2:00AM
RNS Non-Regulatory
TIDMOTMP
OnTheMarket plc
10 September 2020
None of the information contained in this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014, nor does it contain
any information that is required to be announced via a Regulatory
Information Service under the AIM Rules for Companies.
10 September 2020
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
OnTheMarket delivers another month of record leads
OnTheMarket plc, the majority agent-owned company which operates
the OnTheMarket.com property portal, announces record leads to
advertisers during August, beating July's previous record.
Record leads
The portal generated more than 2 million leads in August, an
increase of 64% year on year, with an average of 149 per
advertiser. Visits to the site again exceeded 27.5 million for the
month. This continues the strong recent performance over the last
three months which has seen average visits of 26.8 million per
month and an average of 2 million leads per month.
Drivers of the increase in traffic include OnTheMarket's "New
& exclusive" properties, which sees many agents choose to list
properties on the site in advance of listing them on Rightmove or
Zoopla, together with properties of those agents listing
exclusively with OnTheMarket, a number which has grown strongly
year-on-year.
Maintained strong cash position
As of the end of August, OnTheMarket's net cash balance stood at
GBP10 million, an increase of GBP0.6m compared to the end of June,
and, excluding GBP2.2 million of deferred creditor payments, it had
no borrowings. Cash balances will fluctuate as creditor and tax
payments fall due, but the Company has continued to take a
disciplined approach to managing its cost base and cash position,
including through a significant reduction in marketing
expenditure.
Clive Beattie, Acting Chief Executive Officer of OnTheMarket,
said :
"We are consistently driving strong leads while our consumer
awareness is growing and these record numbers show how many serious
buyers we are attracting to the site.
"Our focus remains on driving performance and delivering value
for our agent shareholders and the strength of OnTheMarket's
on-going traffic shows a sustainable platform for future
growth."
(1) Data for leads generated is drawn from the Company's operating systems.
(2) Visits comprise individual sessions on OnTheMarket.com's
web-based portal or mobile app by users as measured by Google
Analytics.
ENDS
For further information, please contact:
OnTheMarket
Clive Beattie, Acting Chief Executive Officer 0207 353 4200
Tulchan Communications
James Macey White
Giles Kernick 0207 353 4200
Zeus Capital (Nominated Adviser/Joint Broker)
Jamie Peel, Martin Green, Daniel Harris (Corporate
Finance)
John Goold, Benjamin Robertson (Broking) 0203 823 5000
Shore Capital (Joint Broker)
Daniel Bush, John More (Corporate Finance)
Fiona Conroy (Corporate Broking) 0207 408 4090
Background on OnTheMarket :
OnTheMarket plc, the majority agent-owned company which operates
the OnTheMarket.com property portal, is a leading UK residential
property portal provider.
Its objective is to create value for shareholders and property
advertiser customers by delivering an agent-backed, technology
enabled portal - offering a first-class service to agents and new
homes developers at sustainably fair prices and becoming the go-to
portal for serious property-seekers.
With over 3,000 estate and letting agent shareholders, operating
over 6,000 offices, OnTheMarket provides a unique opportunity for
agents to participate in the equity value of their own portal.
Agent backing and support enable OnTheMarket to display "New &
exclusive" properties to serious property-seekers 24 hours or more
before agents release these properties to other portals.
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END
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