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Rightmove profit up 11% as site traffic volumes grow

Friday, 1st March 2019
Online property portal Rightmove posted an 11% rise in annual profit after its site was visited more times for longer time periods.

Pre-tax profit for the year through December rose to £198.3m, as revenue improved 10% to £267.8m.

The company declared a final dividend of 4.0p per share, up 11% on-year.

Rightmove said its customer numbers had only risen 'slightly', though site visits rose 4%, while time spent rose 5%.

Average revenue per advertiser rose £83 to £1,005 per month.

Turning to the outlook, Rightmove said it expected the UK online property advertising market to keep growing, despite Brexit uncertainty.

'Consumers and customers are becoming increasingly digital and customer spend continues to transition online from traditional advertising channels as they take advantage of the efficiencies we bring,' the company said.

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