{"id":18568,"date":"2019-05-03T16:40:50","date_gmt":"2019-05-03T04:40:50","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=18568"},"modified":"2019-05-03T16:40:50","modified_gmt":"2019-05-03T04:40:50","slug":"purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs\/","title":{"rendered":"Purplebricks not likely to make profit in Australia until 2022: UBS"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0Purplebricks\u00a0<\/strong><\/p>\n

Leading investment bank UBS has predicted that shares in Purplebricks, the international low commission estate agency, will soon hit \u00a31 each, the price at which it floated in December 2015.<\/p>\n

In May last year its shares were trading at \u00a33.54p but are now exchanging hands at \u00a31.33p.<\/p>\n

It suggested the company will have to borrow another \u00a3100m \u2018soon\u2019 to fund its mounting group losses.<\/p>\n

UBS has based its prediction largely on the\u00a0worsening position for Purplebricks in Australia, which the investment bank claims will not break even until 2022, three years later than expected, while its US operation is not likely to break even until 2025.<\/p>\n

The investment bank says it expects Purplebricks\u2019 Australian operation to generate revenues of \u00a326 million next year on which it will make a loss of \u00a312 million, while the company\u2019s US operation could lose \u00a353 million.<\/p>\n

READ MORE VIA PROPERTY OBSERVER<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0Purplebricks\u00a0 Leading investment bank UBS has predicted that sharesRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":18073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478102688,478099889,478104997,478104996,478098513,478101743,478098579,478098510,478098514,478099365,478098511,478098705,478098533,478098509,478103658],"class_list":["entry","author-data123nz","post-18568","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-estate-agency","tag-investment-bank","tag-low-commission","tag-low-commission-estate-agency","tag-property","tag-property-correction","tag-property-market","tag-property-news","tag-propertynoise","tag-purplebricks","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-ubs"],"yoast_head":"\nPurplebricks not likely to make profit in Australia until 2022: UBS - 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