OnTheMarket creating "an increasingly differentiated proposition"
London, UK
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July 19, 2023 07:45 AM Eastern Daylight Time
OnTheMarket PLC (AIM:OTMP) CEO Jason Tebb and interim CFO Simon Bullock speak to Thomas Warner from Proactive London about how the business has been performing recently, following the release of audited full year results for the period ending 31 January 2023.
The technology-enabled property business reported record revenues, EBITDA, and adjusted operating profit for the year. Tebb highlighted the four-pillar growth strategy, focusing on developing the customer-facing online portal, software solutions, data and market intelligence tools, and consumer communications. Interim CFO Simon Bullock shared financial highlights, including total revenue growth of 14% to £34.4 million, a 23% EBITDA margin, and a 12% increase in average revenue per advertiser (ARPA) to £210.
The company has achieved revenue diversification by selling more products and services to agents, with around 30% of the agency base purchasing additional products. OnTheMarket also maintains a healthy cash position and no borrowings. Tebb emphasises the importance of ARPA for revenue growth and outlined the strategy of expanding the product mix to cater to various aspects of the property ecosystem. Despite challenges in the housing market, Tebb remains positive that OnTheMarket can leverage its "increasingly differentiated proposition" and offer exceptional value to its customers.
He concludes by saying that OnTheMarket aims to provide cost-effective packages and commercial partnerships to support agents in challenging times and maintain its position as a differentiated player in the market.
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Proactive UK Ltd
Proactive UK Ltd
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