26 July 2006
Rightmove to Discontinue HIPs Investment
Further to its announcement of 19 July 2006, Rightmove plc today announces its
intention to discontinue its investment in Home Information Packs (HIPs). This
decision follows a Board review initiated last week in response to the change to
Rightmove had planned to spend £22 million developing its HIPs proposition, of
which approximately £7 million has been spent to date. Exit costs are not
expected to exceed £1.2 million.
The Board reaffirms the comments made in the trading statement issued on 6 July
2006 that full year revenue and profit before tax would exceed the top end of
the range of analysts' estimates as at that date.
Rightmove +44 20 7318 9095
Maitland +44 20 7379 5151
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