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Rightmove saw an extremely profitable 2016
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Yearly figures released by Rightmove for 2016 show that the portal achieved a record number of advertisers and traffic.
Data shows that agency and new homes customers rose by 2% in the course of the year to 20,121. In addition, Rightmove said that one million UK residential properties were advertised during the year, which it claims is one-third more than any other portal.
Growth
In its trading statement, the portal said that it saw strong traffic growth in 2016, with a 10% rise in visits. There are an average of 120 million visits per month, in terms of ‘time on site.’
Revenue was 15% up year-on-year, while operating profit rose by 18% and basic earnings share increased by 21%.
Rightmove saw an extremely profitable 2016
What’s more, Rightmove was ranked by Forbes as the worlds most innovative growth company, following the launch of a new marketing tool.
Commenting on the figures, Nick McKittrick, Chief Executive Officer of Rightmove, said: ‘Rightmove continues to be the place that home movers turn to first, with nearly 1.5billion visits in 2016, up 10% on last year. Our continued innovation and audience growth is delivering even greater exposure for our customer’s brands and properties.’[1]
‘We are adding further value through our data, advertising products and productivity tools and by building closer relationships with customers to support their ambitions. 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,’ he added.[1]
[1] https://www.estateagenttoday.co.uk/breaking-news/2017/2/rightmove-reveals-more-agents-more-visits-and-more-profits-in-past-year
