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TODAY'S OTHER NEWS

OnTheMarket to reveal first six months 'float' figures tomorrow

OnTheMarket plc, the company which operates the OTM portal, gives its first formal stock market figures tomorrow morning, for the six months to the end of July.

Last week OTM announced that it now has signed listing agreements with more than 11,000 estate agency offices - over double the figure it had when it floated on the London Stock Exchange in February. 

The portal also says that it reached a record high of 17.4m visits last month - more than three times the number of visits compared with February. 

It has mostly targeted regional agency groups and independents in recent months - its latest signing was Andrews, which has over 50 branches across the south of England and which previously had not listed on the portal.

OTM says many of its recent signings have been on the basis of heavily discounted fees with the portal’s long term success depending on converting these into paying customers and providing a continuing challenge to Rightmove and ZPG.

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