Home Property Rightmove revenue rose to £267m

Rightmove revenue rose to £267m

by LLP Reporter
1st Mar 19 11:01 am

Online house search engine, Rightmove has reported a jump in revenue despite a slowdown in house sales in the UK.

Revenue rose to £267.8m by 10% as the property search engine brought in more advertising from housebuilders and estate agents.

Paid advertising surpassed  £1,000 per advertiser to reach, £1,005 per month for the first time.

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Rightmove reported profit before tax was £198.6m for 2018, compared to £178.3m the previous year.

Peter Brooks-Johnson, chief executive said, “We extended our market leadership and reinforced our position as the place consumers turn to first when thinking about moving home.

“In doing so, we demonstrated that Rightmove is a business which can continue to grow strongly even in uncertain times.

“We focus relentlessly on creating a more efficient marketplace, constantly innovating to provide deeper insights to our agent and developer customers, and an even simpler, more intuitive user experience for home hunters.”

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