Losses at Purplebricks more than doubled in its first half as the online estate agency poured its cash into increasing its market share.
Despite a 75% surge in revenue to £70.1m in the six months to the end of October, the agency unveiled an annual operating loss of £25.6m, sharply up from a £11.4m loss the previous year.
Its profitable British business was offset by challenges in overseas markets. The agency reported a £10.2m loss in Australia, where the company said that it had suffered from difficult market conditions and operational issues.
Click here for the full Times article (£)
Click here for the full Telegraph article (£)
