Revenues and profits both bounced up at Rightmove. The company stated that its income has increased 23% to £57.9m and profits shot up 28% to £42.6m. The profit margin went up 73.5%, from 71.1% in the first half of last year.
Managing Director, Ed Williams said that the website slightly increased its market share over the period to account for about 83 per cent of page impressions, widening the gap over its nearest competitor.
Numbers of advertisers have not changed this year, rising just 0.1% since the end of last year to stand at 18,299 and 1% lower than the first half of last year.
Average revenue per advertiser has gone up 20% to £518 per month. In the first six months of last year, the average spend per advertisier was £430.
Rightmove said customers had increased their spend ‘more sharply than usual at the start of the year’, with higher prices being charged and 80% now buying one or more additional advertising products.
“Britain continues to move at Rightmove. Not only is Rightmove where home movers look for their next home but we are the definitive source of information on what is happening in the UK property market. Our reputation with agents and other property professionals, whether through our data services business or as the source of the best view of the market for landlords and vendors, goes from strength to strength,” said Williams.