This announcement replaces the previous announcement issued
today at 0700. The reason for the correction is: Correction of dividend payment.
Embargoed for release at 07.00 hours, 4th May 2011
INTERIM MANAGEMENT STATEMENT
Rightmove plc ("Rightmove"), the UK's number one property website, today
publishes its Interim Management Statement for the period from 1st January 2011
to 30th April 2011.
Current tradingand Outlook
The business continues to trade in line with the strong start to 2011
communicated at the time of our Full Year Results in February:
* Website usage by home hunters on the Rightmove.co.uk website continues to
set new records for busiest day, week and month
* Adoption of additional products has also been strong with over 60% of
agents and new homes developers taking at least one additional product and
24% of their spend in March was on additional advertising products
* Average Revenue per Advertiser* (ARPA) has grown strongly and is in line
with our aspiration of achieving an increase in the region of £60 for 2011
on the 2010 average of £379 per month
* The overall number of advertisers* at the end of March was up 0.7% since
December 2010 and growth has continued in April. The growth has come from
modest increases in the number of lettings only agents and new homes
Subject to there being no further decline in the UK housing market, the Board
remains confident of meeting its expectations as communicated at the Full Year
Activity levels on the website
Page impressions on the Rightmove.co.uk website during the first three months
were up around 15% on the same period a year ago and we have exceeded our
busiest ever day, prior to 2011, on many days this year.
Mobile access to Rightmove whether through our Apps (iPhone and iPad) or our
optimised mobile website has been of particular note in terms of rate of
growth. Searches on mobile devices were over 200% higher in the first three
months of 2011 compared to the same period a year ago.
Rightmove's market share among the top property websites was 82%** for the
first three months, in line with the average for 2010. We ran our `Safari' TV
advertising campaign again in January and February and then launched our
`Britain moves at Rightmove' campaign with a new TV advertisement in April.
Paid site traffic continues to be negligible (substantially less than 1% of
total visits to the site) showing the ongoing strength of Rightmove's brand
recognition and further success in optimising our organic search performance.
Rightmove agency membership has grown during 2011 and at the end of March stood
at 14,864, up slightly on the end of 2010.
ARPA has increased substantially compared to the same period in 2010 as a
result of price rises and sales of additional advertising products including
display advertising. A large number of agents have chosen to take a bundle of
advertising products including our largest agency customers.
The number of developments on Rightmove at the end of March was up 3% on the
start of the year. This is a result of major house builders starting to market
more developments. ARPA has continued to grow as a result of price rises and
sales of additional advertising products and email campaigns.
Our overseas homes advertising business continues to transition towards being a
more private advertiser oriented proposition rather than being solely for
agents. Our data services business, a modest contributor in terms of overall
Rightmove revenue, continues to trade healthily.
Operating costs remain low and are unlikely to exceed the £29m indicated at the
Full Year Results in February.
Return of capital
The final dividend for 2010 of 9p will be paid on 10th June 2011 to members on
the register on 13th May 2011. Share buy-backs so far this year have totalled
1,098,341 shares purchased at an average price of 956p.
Contact: For Ed Williams (MD) or Nick McKittrick (FD) please contact Rightmove
plc Press Office, 07894 255295
* estate agent and rental only agent offices and new homes developments (but
excludes overseas homes advertisers)
** percentage of all UK pages of the top four property websites as measured by
Hitwise, including Rightmove's mobile website.