Purplebricks CEO focused on building share in UK through better customer experience

Vic Darvey, chief executive of online estate agent Purplebricks PLC (LON:PURP), talks through how the business has coped with coronavirus and the opportunities opening up in ancillary services. Revenues dipped 2% in the year to April, which he says was a resilient performance given the backdrop of Brexit and COVID-19. Activity has bounced back since the end of lockdown, he adds, with the 7,000 instructions in July making it the best month ever. Purplebricks recently sold its Canadian business and the focus now is very much in the UK. The business has a 5% market share, which leaves a lot to go for, he adds. “We believe a tech -led estate agency is the winning model and can gain share in any market.” Darvey says that he wants to add services such as broadband , gas and electricity switching to Purplebrick’s offering. "We know the date people are moving so it makes sense and will save customers money."

Quick facts: Purplebricks

Price: 70.6 GBX

Market: AIM
Market Cap: £216.61 m

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