Zoopla has turned around its performance, increasing profits significantly to nearly £18.8m from losses in the previous two years.
The portal made a £6.2m loss in 2022, following a £17.8m loss the previous year, but newly published accounts show it made a healthy profit last year. 
Zoopla's revenue is set to rise to £90.4m from £87.3m in 2023, according to the accounts.
Proactive Movement
And the news comes as a boost for Zoopla, as rival OnTheMarket (OTM) has been making aggressive moves in the market.
OTM was acquired by global property data group CoStar for £100m at the end of last year, leading to a significant increase in marketing spend.
The increase in earnings was primarily driven by several cost restructuring programs…”
Sam Fletcher, CFO of Zoopla parent company Houseful, said: “The increase in profits is primarily due to a number of cost restructuring programs implemented in 2022 and 2023 aimed at improving profitability.”
“Revenue increased 3.6% due to a recovery in the new home market, growth in website advertising partnerships and the end of complimentary contracts offered during the COVID-19 pandemic,” she said in the company's financial statement.
Takeover refusal
Zoopla's biggest rival, Rightmove, recently rejected a takeover bid from REA, an Australian company owned by Rupert Murdoch's News Corp.
Zoopla is the main sponsor of this year's The Negotiator Awards and is also a partner of The Negotiator Conference & Expo, which takes place prior to the awards.
The portal is also one of the “partners” of the England cricket team in their series against old rivals Australia.
Interview: Zoopla boss reveals plans ahead for resurrected OTM
