Leading UK portal rightmove.co.uk says it is expecting profits to rise in 2010, and says its financial results for 2009 will be in line with current market expectations.
The portal saw an increase in average spend per advertiser in January, which it puts down to the impact of increases in agent listing fees, the uptake of new advertising products launched in December 2009, and the fact that its customers are spending more on its existing advertising products.
"The Board is confident that 2010 profits will be above current market expectations, subject to no significant change in market conditions," rightmove.co.uk states. "This is based on the higher average spend per advertiser achieved in January, evidence from our customers of our continued value for money, and the predictably of our subscription model."
estateagenttoday.co.uk reports that rightmove.co.uk shares rose by 40p to 565p - over seven percent - on the day of this announcement.