StockMarketWire.com - Real estate portal OnTheMarket swung to a first-half profit after it boosted revenue, even after cutting back on marketing costs.

Pre-tax profit for the six months through June amounted to £0.7 million, compared to losses of £7.0 million year-on-year.

Revenue climbed 28% to £10.2 million, despite the company offering Covid-19 related customer support discounts of £1.8 million.

Marketing expenditure was cut 67% to £2.2 million.

OnTheMarket said it expected to achieve a 'broadly breakeven' adjusted operating profit for the full year, amid a rise in second-half revenue and costs.



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