UK's Purplebricks tanks after annual loss, flagging housing supply snarls
02/08/2022 08:40
** Shares of British online real estate agent Purplebricks
Group PURP.L fall 10.3% to 14.3p
** Co reports annual loss, mainly hurt by hurdles in
implementing a new operating model, and says it expects supply
in the housing market to remain challenging urn:newsml:reuters.com:*:nL4N2ZE1GQ
** PURP changed its business model in 2021 by making its
sales agents permanent employees, while a Money Back Guarantee
pricing scheme — also launched last year — failed to lift the
instructions as expected and has now been removed
** Stock down 40.3% YTD
(Reporting by Eva Mathews in Bengaluru)
((Eva.mathews@thomsonreuters.com))
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