Purplebricks Group PLC (LON:PURP) saw its shares shed another 2% today, following a 7% slide yesterday, as the online estate agent hit back at criticism of its practises in two BBC documentaries.
In a statement, the AIM-listed firm addressed allegations made by the BBC about exaggerated sales figures, the way it allows customers to defer payment and claims it made in its advertising.
READ: Purplebricks sees full-year losses more than halve as revenues double, ups forecast for UK revenues
The group said that while it did not have the “precise data and areas being reviewed by the BBC”, it believes that sales and instructions figures provided by the local property experts concerned have “fairly reflected the performance of the teams operating in those areas”.
Regarding the “deferred payment facility” it provides to customers, Purplebricks said the Property Ombudsman and Trading Standards Institute had reviewed it, and had not requested any changes.
It also apologised for a “standard email format” that “inadvertently” included claims that the Advertising Standards Authority had ruled were misleading.
Michael Bruce, the firm’s founder and chief executive, said: “ We seek to satisfy and surpass our regulatory obligations at all times, and where we find circumstances where we have fallen short we seek to rectify these situations at the earliest opportunity.”
He added: “The Purplebricks offering has already saved consumers in the UK tens of millions of pounds when selling their properties, and we are focused on building on this position still further.”
In early morning trading, Purplebricks shares were down 1.9%, or 8.5p at 430.25p.