Rightmove, one of the Top 10 Property Portals in the UK, has released its half-year financial results for the six month ended 30th of June, 2012.
The latest figures indicate strong performance across all of Rightmove’s key metrics in the first half of 2012. The company continues to place its member advertisers in front of the UK’s largest online audience of home-hunters, with page impressions up 23% to 5.9bn and the website maintaining its 83% market share of the UK’s top four property sites. This has been supported by continuing growth on mobile platforms, including Rightmove’s suite of Apps (iPhone, iPad and Android) and optimised mobile website, which has been of particular note in terms of rate of growth with the number of searches up 100% year-on-year. Rightmove member advertisers have looked to maximise their presence in front of this audience by increased adoption of Rightmove’s additional advertising products, with 80% of agents and new homes developers now taking out at least one extra advertising product (up from 70% last year). This has contributed to Rightmove increasing revenues by 23% to £57.9m (2011: £47.0m) with underlying operating profit up 28% to £42.6m (2011: £33.4m) (1). The number of advertisers remains virtually unchanged since the start of the year at 18,299 (31 December 2011: 18,276).
Ed Williams, Managing Director of Rightmove comments: “By maintaining our ongoing investment in home hunting innovations, advertising and website performance, Rightmove is able to consistently connect its member advertisers with the UK’s largest online audience of home-movers. Our high level of website traffic shows home movers continue to choose Rightmove as one of their most popular UK online brands and underlines the fact that Britain Moves At Rightmove.”
According to Experian Hitwise, Rightmove is the 7th most-used website by the British public overall, with only Facebook, Google, eBay, YouTube, Amazon and Yahoo seeing more page views over the first half of 2012. Beyond the strength of Rightmove’s main website, the company continued to invest in its compelling range of mobile platforms in the first six months of the year with the launch of a new Android app, as well as a unique iPad app built exclusively for Rightmove member agents.
Williams adds: “We continue to invest in new website features and mobile technologies to extend the reach of Rightmove member advertisers’ properties, brands and expertise, and enable advertisers to stand out in their local property market. Ongoing enhancement of Rightmove’s data and market intelligence services has allowed our reputation to go from strength to strength with agents, other property professionals, and our large audience of existing and potential landlords and vendors, choosing Rightmove to give them the best view of the market.”
(1) From continuing operations before share-based payments, NI on share-based incentives and no related adjustment for tax