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Interim Management Statement

7th Nov 2013 07:00

RIGHTMOVE PLC - Interim Management Statement

RIGHTMOVE PLC - Interim Management Statement

PR Newswire

London, November 6

Embargoed for release at 07.00 hours, 7th November 2013 RIGHTMOVE PLC INTERIM MANAGEMENT STATEMENT Rightmove plc ("Rightmove"), the UK's number one property website, publishesits Interim Management Statement for the period from 1st July 2013 to date.Financial and operating information relates to the period 1st July 2013to 31st October 2013 unless otherwise stated. Current trading The last four months have continued to show healthy growth in revenue andearnings and strong cash generation. Average revenue per advertiser ("ARPA") has continued to increase as customerscontinue to increase spend on additional advertising products to promote theirbrand and properties. The number of Agency and New Homes developments on theRightmove website at the end of October stood at 18,372, up 2% since the firsthalf of the year. We have continued to promote our brand in order to further increase ouraudience reach for our customers with investment in TV advertising, searchengine optimisation and a campaign targeted at London. We ran a national TVcampaign, featuring Blondie's soundtrack `Dreaming' in August, September andOctober. We have also continued to develop our industry-leading desktop andmobile platforms to best showcase our customers' brand and properties in frontof the most home hunters, whether they are at home or on the move. The resulting activity on Rightmove has been strong with page impressions uparound 30% compared to the same four months of 2012. Our mobile platforms havecontinued to grow rapidly with over 1.7 billion pages viewed in the period,almost double the same period last year. The increase in traffic, coupled withthe roll-out of local geographic telephone numbers, has resulted in new recordsfor the number of enquiries generated for our customers, up 80% compared to thesame period last year. Agency & New Homes ARPA for the period in both our Agency and New Homes business units showedfurther growth compared to the first half of the year, reflecting the furtheradoption of additional advertising products and the effect of increases to ourmembership fees. Spending is up across our range of additional advertisingproducts including strong demand for our New Homes email campaign service. Wehave delivered over seven thousand email campaigns on behalf of our New Homescustomers this year to over three million home hunters. Agency membership at the end of October stood at 16,093, a 2% increase sincethe first half of the year whilst the number of developments at the end ofOctober stood at 2,279 an increase of 31 developments since the first half ofthe year. Other businesses Our overseas property and data services businesses, both modest contributors interms of overall revenue, continue to trade healthily. The number of overseascustomers at the end of October stood at 1,077, an increase of 220 since thefirst half of the year. Dividend and share buybacks As previously announced, an interim dividend of 11p per share will be paid on8th November 2013 to shareholders on the register as at 11th October 2013.Since the announcement of the half year results on 31 July 2013, the Companyhas acquired and subsequently cancelled 1m shares at a cost of £23.4m. As at31st October 2013 Rightmove had £15.8m of cash. Outlook The Board is confident of meeting its expectations for the current year. TheBoard remains confident of making further progress in 2014, subject to therebeing no significant downturn in the UK housing market. Enquiries: Please contact Rightmove plc Press Office on 0207 0870605 for:Nick McKittrick, Chief Executive OfficerRobyn Perriss, Finance Director

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