StockMarketWire.com - Rightmove booked a 12% rise in first-half profit after increased traffic growth and a slight rise in customer numbers help boost revenue.

Pre-tax profit for the six months through June rose to £98.1m, as revenue rose 10% to £131.1m.

The company declared an interim dividend of 25.0p per share, up 14% on-year.

Agency and new home customer number increased slightly since the start of the year to 20,450, up from 20,427, while traffic grew 5% on-year.

Average revenue per advertiser grew £76 on the same period a year ago to £987 per month.

Rightmove forecast annual average revenue per advertiser for the full year to grow by around £80 year on year, with growth more weighted to the second half of the year than in 2017 due to the timing of 2018 pricing activities.

'In the first half of 2018 a record 1.1bn minutes per month were spent on Rightmove,' chief executive Peter Brooks-Johnson said.

'Home hunters continue to turn to us first to search and research in the only place you can see virtually the whole of the UK property market.

'Our restless innovation delivers the fastest and easiest way to 'find your happy' from the 1.2m UK residential properties on Rightmove leading to consumers sending over 22m enquiries in the period.'

'The continued stable membership numbers and our subscription advertising model, together with the strength of the Rightmove offer for both customers and consumers, give us confidence in delivering expectations for the current year despite muted sentiment towards the UK property market.'




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