- Online real estate portal OnTheMarket said it had fired chief executive Ian Springett, even as it forecast a better-than-expected adjusted earnings performance.

Chief financial officer Clive Beattie had been appointed acting CEO while the company searched for a replacement for Springett.

Revenue for the year through January were expected to be slightly above the £18.0m-to-£18.5m guidance provided in September.

'On behalf of the board and all our colleagues I would like to thank Ian for his hard work and commitment over many years,' chairman Christopher Bell said.

'He has played a major part in helping establish as one of the UK's leading residential property portals and we wish him every success in the future.'

'Our commitment to building a strong, agent-backed, profitable and technology-enabled business remains undiminished.'

'However, to continue our progress toward this objective and take OTM forward through the next phase of its corporate development, the board believes now is the right time to appoint a new chief executive.'

'The board remains very confident in the prospects of OTM and its potential in capitalising upon its substantial growth opportunities.'

'We have built a talented team and we will continue to ensure that we provide innovative, affordable and valuable solutions to meet our customers' changing needs.'

At 9:32am: [LON:OTMP] Onthemarket Plc share price was -1.5p at 68.5p

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