Rightmove reports record results in H1

Rightmove has announced both its revenues and profits were up in the first half of this year.

Related topics:  Property
Amy Loddington
28th July 2017
house prices up

Revenue rose 11% to £119.5m, with underlying profits up 11% to £91m, and operating profits up 9% to £87.6m. 

It also announced that record numbers of agents and developers advertised on its portal in this period, with numbers up 1% since the start of the year to 20,358.

Website traffic was also at a record high, with the website attracting over 3,000 visits every minute – a record total of 790m visits in six months.

Peter Brooks-Johnson, Chief Executive Officer, said:

“Home hunters visited Rightmove a record 3,000 times a minute in the first half of 2017, turning to us first to search and research on the only place you can see almost the entire UK residential property market. Our continued development to deliver the richest experience and fastest way for home hunters to ‘find their happy’ from 1.1 million residential properties has been recognised by Forbes Magazine naming Rightmove “the world’s most innovative growth company” for the second year in a row. This recognition is thanks to innovation such as our latest search feature, ‘Where can I live?’, which finds homes in areas which are affordable and convenient, offering home hunters help when their inspiration has run dry.

"Our aim has always been to help our agents and developers succeed by delivering great value marketing and building strong relationships to support their ambitions. This approach continues to serve us well as we have grown our customer base to an all-time high demonstrating that Rightmove is the site of choice, not only for Britain’s home movers, but also its property professionals. With consumers and customers becoming increasingly digital our clear market leadership coupled with the value of our products and data positions us well for the future.”

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