(Reuters) - UK online estate agent Purplebricks Group Plc (L:PURP) reported a profit in the first-half, as it earned higher fees from selling more houses on its website and put forth a plan to grow its market share to 10% in its core market.
The company, which uses a low-fee model to win business from bigger, more established estate agents, reported an adjusted operating profit of 1.6 million pounds, compared to a loss of 74.2 million pounds a year earlier.
Purplebricks said the losses and costs related to the closure of its U.S. and Australia businesses earlier this year was going as planned and within the range of 10 million pounds to 14 million pounds.