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Rightmove

Rightmove sees 33% rise in profits thanks to increased revenue from online advertisers and record web-traffic

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By Jennifer Faull, Deputy Editor

March 2, 2013 | 2 min read

UK property agency, Rightmove, has noted a rise in pre-tax profits for 2012 to £83.2 million from £62.7 million in the previous financial year.

Rightmove said the results, which were published in its annual results statement, were down to growth in sales of additional advertising profits and increased membership prices.

Average revenue per advertiser was up 19 per cent in 2012 to £529 per month. The website also saw record traffic to the site, up 18 per cent in 2012 from the previous year, with more than 11 billion pages being viewed across during the year.

Chief executive Ed Williams commented: "The outlook for the UK online property advertising market continues to be positive, albeit tempered by a challenging UK housing market."

Financial director Nick McKittrick added: "More than a decade of investment has established Rightmove as one of the UK's most popular online brands.

"We continue to invest in order to maintain our market-leading position and enable Rightmove members to promote their properties and brand in front of the most home movers.

"We've seen an encouraging start to the year with record traffic and enquiries and with a major new TV campaign launching next month, we're looking forward to that continuing throughout 2013."

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