Property portal giant Zoopla has bounced back to profit after a tough couple of years, but not without casualties – nearly 100 jobs were cut in the process.

The company, a favourite resource for property developers and investors, revealed a healthy pre-tax profit of £18.7 million in their latest financial report. This comes after a worrying loss of £6.2 million the previous year.

This impressive turnaround follows a surge in revenue, jumping from £87.2 million to £90.4 million. However, this success has come at a cost, with Zoopla slimming down its workforce from 483 to 388 employees.

Despite the job losses, Zoopla’s directors remain optimistic about the future. They believe the company is in a strong position to cement its place as the UK’s top property website, connecting buyers and renters with their dream homes.

Their strategy? Keep things fresh! Zoopla plans to continue innovating and enhancing its platform, ensuring it remains the go-to resource for property decisions.

This positive news from Zoopla follows a strong performance from its parent company, the brains behind other household names like Confused.com and Uswitch. The group significantly reduced its pre-tax loss from a staggering £714.6 million to a much healthier £134.9 million, with revenue experiencing a significant boost from £391 million to £451.5 million.