Zoopla Property Group is expected to reveal a profit boost this week

 
Shruti Tripathi Chopra
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Zoopla boss Alex Chesterman began 2017 by acquiring property data company Hometrack for £120m in January

Zoopla property group (ZPG) is expected to reveal a boost in profits as part of its half-year results due to be announced on Wednesday.

The FTSE-250 property giant is set to reveal a profit hike of up to 15 and 20 per cent this week, according to the Sunday Times.

However, Zoopla boss Alex Chesterman is not upbeat about the property industry’s growth this year.

In an interview with City A.M. earlier this year, Chesterman said: “The Brexit vote has had an impact and that is not surprising given the resulting uncertainty.

“We saw property sales volumes fall quite significantly in the second half of last year, compared to the period before the vote,” he added.

Read more: How Brexit will affect UK house prices, according to Zoopla's boss

Chesterman has scaled the company by snapping up digital platforms including price comparison website Uswitch and property portal PrimeLocation.

Chesterman began 2017 by acquiring data company Hometrack for £120m in January. ZPG’s websites attract over 50m visits per month and over 25,000 UK businesses use it.

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