Another strong period of growth for Rightmove

July 27, 2016
Rightmove logo

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.

You May Also Enjoy

Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →
Breaking News

Breaking Property News 15/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Read More →
Estate Agent Talk

Labour’s Vision for Homeowners and Renters: Key Changes to Expect

The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More →
Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →