British property website Zoopla sees earnings at top end of range

Reuters News
Posted: Sep 08, 2016 2:44 AM

LONDON (Reuters) - Property website Zoopla said annual earnings would hit the top end of forecasts, boosted by a higher number of property listings and growth in its price comparison service, confounding predictions that Brexit would freeze the market.

Zoopla's positive update matched the confident outlooks from British house builders Barratt Developments and Redrow in recent days.

Housing market strength was also apparent in data from the Royal Institution of Chartered Surveyors which said on Thursday that its monthly house price index jumped to +12 in August from July's three-year low of +5, the first rise in six months.

For the year to Sept. 30, Zoopla said its core earnings (EBITDA) would be at the top end of a 69 million pounds ($92 million) to 76 million pound range from a poll of analysts.

(Reporting by Sarah Young; editing by Kate Holton)