Embargoed for release at 07.00 hours, 9th May 2012
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 2012
to 9th May 2012. Financial and operating information relates to the period
1st January 2012 to 30th April 2012 unless otherwise stated.
The business continues to trade in line with the strong start to 2012
communicated at the time of our Full Year Results in February:
* Rightmove traffic is setting new records and is up over 20% on the same
period in 2011
* Average Revenue per Advertiser* (ARPA) has grown strongly as a result of
sales of additional advertising products and price increases. This means we
are well advanced in achieving a similar increase to last year
* Over 75% of agents and new homes developers are now taking at least one
additional product and over 30% of their spend in April was on additional
advertising products. The performance of the newly launched Local Valuation
Alert has been particularly encouraging
* The overall number of advertisers* at the end of April was unchanged on
Activity on Rightmove during the first four months is up over 20% on a year ago
and January was our busiest month ever (over one billion page impressions).
Mobile access to Rightmove through our Apps (iPhone, iPad and Android App) and
our optimised mobile website has been of particular note in terms of rate of
We ran our "Britain Moves at Rightmove" TV advertising campaign again in
January, February and April. Paid site traffic continues to be negligible
showing the ongoing strength of Rightmove's brand recognition and further
success in optimising our organic search performance.
Agency ARPA has increased substantially compared to the same period in 2011 as
a result of further adoption of additional advertising products, including the
new Local Valuation Alert product, and price increases. Rightmove agency
membership is unchanged this year reflecting a stable underlying market.
New homes ARPA has continued to grow as a result of price increases, sales of
additional advertising products and email campaigns. The number of developments
on Rightmove at the end of April is unchanged from the start of the year.
Our data services business, a modest contributor in terms of overall Rightmove
revenue, has had a very strong start to the year with a number of long-term
contract wins in recent months, including its biggest ever single contract win.
Our overseas homes advertising business continues to trade profitably.
Operating costs remain low and are unlikely to exceed the £31m communicated at
the Full Year Results in February.
Return of capital and financial position
The final dividend for 2011 of 11p will be paid on 8th June 2012 to members on
the register on 11th May 2012. So far this year the Company has acquired and
subsequently cancelled 1,150,000 shares at a cost of £15.9m. At 30 April 2012
Rightmove had £24.3m of net cash.
Subject to there being no significant decline in the UK housing market, the
Board remains confident of meeting its expectations as communicated at the Full
Contact: For Ed Williams (MD) or Nick McKittrick (FD) please contact Rightmove
plc Press Office, 07894 255295
* Agency offices and new homes developments