Zoopla acquires Trinity Mirror property sites

zooplapropertyZoopla Property Group has acquired Trinity Mirror Digital Property Limited (TMDP) from Trinity Mirror for £3.3 million. TMDP owns a portfolio of property websites including SmartNewHomes.co.uk, a new homes portal; HomesOverseas.co.uk, a portal dedicated to overseas property listings; Email4Property.co.uk, an estate agent directory and lead generation website and Zoomf.com.

The stand-alone subsidiary, had revenues of £2.9 million and made an operating profit of £0.5 million for the 52 weeks ended 30 December 2012.

In addition to the acquisition of TMDP, Zoopla Property Group and Trinity Mirror are working on a long term commercial agreement whereby ZPG will power the property search for Trinity Mirror’s national and regional newspaper websites.

Zoopla Property Group is the parent company of two major UK property websites – Zoopla.co.uk and PrimeLocation.com and was formed in October 2012 following the merger of Zoopla Ltd and The Digital Property Group. It is a privately held company whose shareholders include A&N Media (a division of the Daily Mail and General Trust), leading venture capital firms Atlas Venture and Octopus Ventures.

Alex Chesterman, Founder & CEO of Zoopla Property Group said, “The acquisition of TMDP is a great strategic fit for ZPG. It allows us to continue to build our portfolio of niche brands in the digital property space like SmartNewHomes, HomesOverseas and PrimeLocation alongside our core national brand Zoopla. The TMDP portfolio of websites further extends our audience and registered user base for the benefit of our members and we will be investing significantly in each of these niche brands to ensure that we continue to be the most effective marketing partner for each of our members.”

UK, London

DMGT preliminary results – pre-tax profits up 64%

Daily Mail and General Trust has reported its unaudited preliminary results for the year ended 30 September, 2012.

Total pre-tax profits rose 64% to £206.3 million. This included more than £100 million in charges and £150m in profits from disposals. Total revenues dropped by 1% to £1.96 billion.

MailOnline enjoyed a strong year of growth, recording a 74% increase in revenue to £28 million.

Northcliffe Media was the biggest surprise, contributing operating profit of £26 million (2011: £17 million) from revenues of £213 million (2011: £236 million).

Northcliffe Media, which is being sold to Local World venture, had reported a 37% fall in profits in 2011.

Martin Morgan, Chief Executive, said, “DMGT has delivered a good set of results in the 12 months to 30 September. Group adjusted pre-tax profits* rose by 10%. Our international B2B companies have increased their revenues and profits* by 7% and 8% respectively on an underlying# basis. Although our UK consumer businesses were impacted by challenging trading conditions, it was particularly pleasing that Associated was able to grow its revenues by 2% on an underlying# basis and that underlying# profits* for the consumer businesses rose 12% – reflecting greater productivity and efficiency linked to continued digitisation in that division.

We continued to refine our portfolio of businesses during the year with further acquisitions and disposals aimed at improving our long term growth potential. Today we are a more focused and financially stronger Group, leaving us well positioned for 2013 and beyond.”

Read the full announcement here.

UK, London

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