Online property portal OnTheMarket plc has reported increased revenues and profits.
The firm, listed on the London Stock Exchange, saw turnover for the year ended 31st January 2022 reach 拢30.8 million, up from 拢23m in FY2021.
Profits hit 拢2.6m, up from 拢2.4m in the previous 12 months.
It said FY22 saw the successful implementation of a number of commercial partnerships, which provide a greater range of products and services to the group’s advertiser customers and to OnTheMarket.com users.聽
These included those with Brickflow, Autoenhance.ai and a strengthened partnership with Sprift, through which OnTheMarket can provide an exclusive prospecting product, SmartMail, to its advertiser customers.
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In addition, in January 2022, an extended agreement with Insurestreet Limited – trading as Canopy – was concluded, alongside a strategic minority equity investment by the company into Insurestreet of 拢350,000.
OnThe Market also launched a new website and branding in December 2021. Its net cash position at 31st January 2022 was 拢8.4m with no borrowings.
“We are delighted to have achieved a year of further financial and operational progress. But there is much more to come,鈥� said CEO Jason Tebb.
鈥淲e have received great feedback from our customers regarding our new strategy and enhanced suite of product and service offerings.聽
鈥淲e look forward to continuing to deliver greater value to both advertisers and consumers during the year ahead.”