Shares in the FTSE 250 company, which is partly owned by DMGT (Daily Mail and General Trust) and estate agent Countrywide, climbed 8pc earlier this week following a ratings upgrade from analysts. The shares then rose the following day to reach an all-time high.

The gains came as Barclays Capital decided to get “back on the horse”, commenting on the company’s “attractive” portfolio of businesses and projecting 20pc growth in the second half of the year for uSwitch. 

Zoopla, which bought uSwitch for £190m last year, said its comparison services division “continues to outperform”, driven by a particularly strong performance from the energy website. 

This division accounts for 60pc of Zoopla’s business, generating £57.7m in revenues in the first half of the year, compared to £38.7m from the property services unit. 

Group revenues jumped 130pc to £96.4m in the six months to March 31, while pre-tax profits grew 53pc to £28.1m.

The company’s full-year profits are expected to range from £69m to £76m.

Source link

Add Comment

Your email address will not be published. Required fields are marked *