Purplebricks will issue its half year results for the six months ended 31 October 2021, tomorrow morning.

A video presentation and live Q&A for analysts and investors will be given at 8.30am by Helena Marston, chief executive officer, and Dominique Highfield, chief financial officer.

The trading figures will come just over a week before the online estate agency has an emergency general meeting at which investors will discuss the potential removal of Paul Pindar as chairman of Purplebricks, and Harry Hill, former chairman and CEO of Countrywide and co-founder of Rightmove, is appointed to the Board.

Activist investor Lecram Holdings Limited, beneficial owner of a 5.16%% stake in Purplebricks, wrote to the Board of the Company last month to request a general meeting where it will propose the senior change.

The general meeting will be held at 10am on 19 December 2022 at the offices of Norton Rose Fulbright LLP, 3 More London Riverside, London SE1 2AQ.

 The following two ordinary resolutions will be proposed to shareholders for consideration at the general meeting: 

 ·      A resolution to remove Paul Pindar as a director of the Company; and

 ·      A resolution to appoint Harry Hill as a director of the Company.

The last financial update – the delayed full year accounts – provided by Purplebricks, in August, saw the firm post a £20m fall in revenues, from £90m in 2021 to £70m.

Gross profit was down 27% from £57.7m to £42.1m

Adjusted EBITDA was minus £8.8m and the overall loss from total operations was £42m. This contrasts with a profit of £6.8m in 2021.

Total fee income was £63m, down 28% on 2021, while the instruction level was 40,141 units, down 31% from 2021.

Average revenue per instruction remained almost static at £1,568, compared to £1501 last year.

Cash balance stand at £43.2m, down from £74m in 2021.