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PURP Purplebricks Group Plc

0.31
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Purplebricks Group Plc LSE:PURP London Ordinary Share GB00BYV2MV74 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.31 0.28 0.34 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Purplebricks Share Discussion Threads

Showing 11851 to 11873 of 14200 messages
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DateSubjectAuthorDiscuss
10/7/2020
08:42
Already possible to list your own properties on rightmove.

We looked at that too, but then decided to let Purp do it and elsewhere for a much smaller fee than the traditionals...

Incidentally, more than one traditional offered to also market the property and, if they sold, they would discount the value of purps fee.

We declined anyway

D

dennisbergkamp
10/7/2020
08:35
Rightmove should shake the market up by allowing vendors to list properties, create an affiliate marketing tool to take a cut of a sale and handle enquiries offers through its website, goodbye traditionals
7rademark
10/7/2020
08:18
It is though hillofwad. the last 10 years has been a race to the bottom on fees, since onliners got more prevalent. All you need to do is look at the trend of annual profits reducing on the high street.
Lets look at connells as an example, who have a fairly large branch network.
Connells 2016 pre tax profits 73.4m
Connells 2017 pre tax profits 65.7m
Connells 2018 pre tax profits 56.9m
Connells 2019 pre tax profits 50.1m
Why dont you have a guess as to if 2020 pre tax profits will be above or below the previous year....
All taken from the connells website. Just an example of high street losing ground. Go on the housesimple website, they are listing houses for free. If thats not slowly killing the industry I don't know what is. High st have lost ground to the likes of PURP who in my opinion are under-selling themselves at ~£832 plus VAT. I think PURP need to raise their fees by a fair amount to make this whole operation viable. Like the bulls say here, they have built up a brand presence from the millions of marketing spend, so a price increase should still mean many people will use them

1giraffetrader
10/7/2020
07:24
"Its a dying industry, and it pains me to say that."


Disagree entirely .With increasing regulations The house sale will always be accompanied by property professionals who will charge a fee for that service
No reason why Bricks cant improve -that should be the easy bit

Personally I think Bricks offer a very poor service However they have opened the door
and resonated with the public

8%of their instructions are below £100k no cheaper than the High Street

hillofwad
10/7/2020
07:05
Since they have now jettisoned both Oz and USA where the losses occurred why is the pot likely to be reduced this year when UK runs at an operational profit




Some of that pot has gone into Homeday as an "investment ". It's Axel's home turf they have had their fingers burned with the £120m investment overseas You would guess they would be super cautious

LPE churn-same rules will be applying throughout the industry. I agree about Vic

There is always the possibility of adding new revenue streams Axel are backed by KKR


You are ignoring the fundamentals the take at the gate .Steady as she goes. Sure its never going to hit the heady heights flossed out in Hardmans . Last year instructions dropped July looks as if they will be hitting within 10%o last years fresh intake. All things considered with the country in partial lockdown that's pretty satisfactory

hillofwad
09/7/2020
16:43
OK hillofwad - lets say they have got 20m in the pot, what will be at calendar year end 2020? Its likely to be down again.

Agreed they are in a better position than most estate agents, but that is not my argument, I am not anti-online agent and pro-high street. My opinion is that the estate agency industry as a whole (online and high st) is going to get a hell of a lot worse before it gets better. Its a dying industry, and it pains me to say that.

What has vic actually achieved since his arrival? slight slowdown of cash burn I'll give him that, but what else? Enlighten me

Doubt they will take the conveyancing in house. If mr michael bruce was still in the chair then the idea might have had legs as he was a solicitor himself and headed up the burchell edwards in-house solicitors over 10 years ago.

Interesting to see my fundamental, important points regarding lack of new revenue streams, cash burn, LPE churn and fair reflection of valuation (market cap) of the business have been ignored...

I'll make it real simple for you, go on hargreaves lansdown and look at the last 5 years financials of PURP (hint, look at the trend of losses last 5 years and which way it is going)

1giraffetrader
09/7/2020
12:57
@dennisbergkamp
Thats why I said their BASE revenue stream from their instructions, they will have other kickbacks from conveyancing, viewings, mortgages etc but I doubt it will mount to a lot. Even if you were to be generous and double that 17m it only gives you 34m revenue. Wheres the rest?

@hillofwad
Why? .... They had 154m in the bank just over 2 years ago, dwindled down to ~34m from their last update 3 months ago. It would surprise me if the cash balance has gone in the other direction and INCREASED, but looking at the fundamentals when has that happened? Erm let me tell you.... never! Except when springer invested. Cash balance will be lower at next update, lets not forget that they will have chucked a small fortune at their olympics advertising campaign. They can't stop the rot of the cash in the bank. You don't need me to tell you that... Look at the previous results in black and white!!!

What new revenue streams are you talking about? They havent come up with any to my knowledge in the last 6-12 months! There was unofficial rumour of them setting up some sort of hub for utilities etc but that is just a load of tripe to try and appease shareholders, they are getting into the territory of uswitch, moneysavingexpert and many others who dominate those areas. Bear in mind utilities is a REGULATED landscape so its not as simple as opening up one day saying youre going to have a utility comparison tool...

What if I told you a little secret, a vendor wants an estate agent to sell their price for the best price in the best timescale... not a silly utility hub.... why over-complicate things? It's not hard.

Their LPE churn is also damaging the bank balance, having to pay a second LPE to deal with the properties of someone who has left.... PURP paying out twice

1giraffetrader
09/7/2020
12:30
Longneck

You really do need to look under the bonnet before you stroll out these sweeping wild statements

"Begging bowl will be out here soon to raise more funds."

Why ? plenty in the tank and enjoying a cash flow with instruction levels just slightly below last year

"I’ve called this right all the way down from 300p,"


Well yes you and most others

The question is are you calling this right at 52p today

You dont seem to be acknowledging the amount of instructions coming through the door and Bricks are less likely to feel the effect of a bear housing market than their high street brethren + adding some new revenue streams

hillofwad
09/7/2020
12:28
They also get a hefty "kick back" from conveyancers and other ancillary businesses.

My conveyancer had to pay approx 50% as a fee to Purp, so there are other additional income streams that come into play.

D

dennisbergkamp
09/7/2020
12:22
haha just checked the PURP website and the fee is £999 INC VAT, so actual base revenue is only £832.50 per property and not the £1000 I mentioned in my last post... THE FUNDAMENTALS DON'T LIE LOL. Asset management and repossession properties will go to the high street corporate agents, that business is unlikely to come PURPs way
1giraffetrader
09/7/2020
12:05
I’ve used my brain Porsche
I think you need to use yours
History repeats itself

My bearish comments on purps model have largely been ignored, ignorance is not a good emotion to use in financial markets

Begging bowl will be out here soon to raise more funds.

I’ve called this right all the way down from 300p,

No bull can really justify where the 100m value in market cap is within this business after you’ve deducted the cash balance.
Even the total revenue for all their current sales instructions (16797) only equates to 16.79m if it’s £1000 per property.

Dear me... and you’re telling me to use my brain lol

1giraffetrader
09/7/2020
11:38
2giraffe. A housing bear market would suit PB’ business model as well as a reasonable market, same as recession suits Ryanair. Use your brain. These can do well, back to 120 ish in the not too distant, have been hammered way too low, yes the U.K. is a covid fiasco brexit self harming basket case but the great unwashed will still move house.
porsche1945
09/7/2020
09:48
I'm surprised people are taking and adding to long positions when we are about to go into a housing bear market
1giraffetrader
09/7/2020
09:27
Well Its all about the listings. Opportunity yesterday for some to take a profit
July looking as if it will be within 10% of July 2019

All things considered that is pretty satisafactory considering challenging times ahead
Looking to addon any retrace . Steady as she goes

hillofwad
09/7/2020
08:24
'Rishi Sunak said the government was "throwing everything we can" to stem job losses with the plans unveiled on Wednesday.

But he will not be able to protect "every single job" as the UK enters a "severe recession".'

I can't believe how many clueless people there are posting here. The recession is only just getting warmed up, we've not even started yet LOL

1giraffetrader
09/7/2020
08:24
Pump and Dumped
bdbiometric
09/7/2020
07:14
80p in July 2020 target
spacedust
08/7/2020
13:18
Sell on news is usual plenty of support at 50p if needed.
7rademark
08/7/2020
12:25
Perfect for the levels PB work at!

Time for a top up methinks!

D

dennisbergkamp
08/7/2020
11:58
Stamp duty cut immediately
spacedust
08/7/2020
11:35
Absolutely Andy,
Heres one for the bulls...
- LPE 1 and 2 territories neighbour each other
- They have both earnt their listing commission for putting their houses on the market
- LPE2 leaves the business
- Who picks up the work of LPE 2? Does LPE 1 pick it up? Where is the incentive if hes not getting paid for it?

Or are they getting paid for it? meaning PURP are having to pay out twice?

1giraffetrader
08/7/2020
10:05
7trademark,


I didn't miss your point at all.


I'm saying that a salesman's first thought in a business where LPE's are churning at a heavy rate, will be to his immediate needs, I.E. to earn commission, rather than putting PURP first, and taking home a much smaller pay packet at the end of the month.

andy
08/7/2020
09:29
Sell on news or continue forward.
7rademark
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