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Heavy losses at Purplebricks amid international expansion

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Online estate agent Purplebricks has posted a hefty loss in the first half of the year amid investment in international expansion.

The company has moved into the United States and Canada and continues to invest heavily in disrupting Britain’s traditional model of high street agents.

In the six months ended 31 October 2018 sales were £70m, up from £40m last time, but operating losses widened from £11.4m to £25.6m.

Boss Michael Bruce added: “We remain confident that our UK success will be replicated internationally and that we will deliver substantial value for our shareholders.”




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