StockMarketWire.com - Property-portal operator OnTheMarket cut its revenue growth target for this year and next year on lower than expected transaction volumes and reduced lettings.

Blaming fears of a no-deal Brexit and a 'wait-and-see' approach by both buyers and sellers, the firm now forecasts revenues of £18m to £18.5m for the year to 31 January 2020 and £27m to £29m for the year to January 2021.

On the plus side tight cost control should mean that losses will be in the region of £9m to £10m for this financial year, a small improvement on previous guidance, but the firm's target of making a profit is pushed out by 12 months to January 2022.




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