Another strong period of growth for Rightmove

July 27, 2016
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Rightmove PLC reports half year results for the six months ended 30 June 2016.

Rightmove, the UK’s number one property site, has delivered another strong period of growth in the six months ended 30 June 2016. 

Rightmove’s market leading audience continued to grow strongly with customers spending more on Rightmove’s products and services, resulting in revenue increasing by 16% to £107.9m with underlying operating profit up 17% to £82.3m and operating profit up 21% to £80.6m.

Nick McKittrick, Chief Executive Officer, said:  “Rightmove was visited over 750 million times in the first half of 2016, up 15% on last year, as consumers continue to turn to us first to search and research on the only place you can see virtually the whole of the UK property market. With the recent launch of our new search technology we are now delivering an even faster and richer experience for consumers to ‘find their happy’ from the 1.1 million UK residential properties advertised on Rightmove.

 “We are focused on helping our customers succeed by delivering the most significant and effective exposure for their properties and brand and being the largest source of high quality leads. In addition to the advertising efficiencies we deliver, we have continued to help our customers drive operational efficiencies through the software, tools and support we provide which draw on our unique data and insight across the UK property market.

” Whilst the economic outlook is more uncertain due to the result of the EU referendum, the visibility provided by our subscription model coupled with the value provided by our products and the strength of the Rightmove brand and traffic give us confidence in delivering expectations for the current year.”

To read Rightmove PLC half year results in full click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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