26th Jul 2006 09:34
Rightmove Plc26 July 2006 Rightmove to Discontinue HIPs Investment Further to its announcement of 19 July 2006, Rightmove plc today announces itsintention to discontinue its investment in Home Information Packs (HIPs). Thisdecision follows a Board review initiated last week in response to the change toHIPs. Rightmove had planned to spend £22 million developing its HIPs proposition, ofwhich approximately £7 million has been spent to date. Exit costs are notexpected to exceed £1.2 million. The Board reaffirms the comments made in the trading statement issued on 6 July2006 that full year revenue and profit before tax would exceed the top end ofthe range of analysts' estimates as at that date. Enquiries: Rightmove +44 20 7318 9095Maud [email protected] Maitland +44 20 7379 5151Neil BennettBrian HudspithCharlotte Barker This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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