It’s certainly been a rollercoaster ride but the latest closing share value of Purplebricks, which floated in mid December, is now above its original price.
Only three weeks ago the online estate agency was down from its original 100.0p share price to around 75.0p - seen by some observers as a sign of alleged over-valuing of the company, which at launch was described as being valued at £240m.
Almost as soon as it started trading on the Alternative Investment Market on December 17 its price appeared to lack the confidence of many investors and it closed that first day down seven per cent; it has seen similar falls on some other days.
However, since January 25 the trajectory of Purplebricks’ share price has been almost completely upwards and at one point last week it hit 106.5p. It closed yesterday at 103.5p.
The change came when Purplebricks announced its first set of figures for the City, saying that in the six months ending October 31 last year - so before the flotation - it suffered a £6.4m loss but saw revenues rise to £7.2m, up 777 per cent on the £0.8m it made in the same period in 2014, with a gross profit of £4.1m, up 814 per cent.
It also reported that it had completed its full national roll-out and had seen a 90 per cent increase in its number of local property expected. It made particular mention of its high customer service ratings on Trustpilot, where it averaged 9.4 out of 10 from over 3,500 reviews.