Rightmove increases 2012 full year dividend by 28%

DividendMax Ltd.

Rightmove increases 2012 full year dividend by 28%

Highlights:

Revenue increased by 23% to £119.4m (2011: £97.0m)

Underlying operating profit(1) increased by 26% to £87.5m (2011: £69.4m)

Underlying operating margin(1) up to 73.3% (2011: 71.5%)

Underlying basic earnings per share up 31% to 65.7p (2011: 50.3p)

Diluted earnings per shareup 40% to 59.2p (2011: 42.3p)

4.5m shares bought back during 2012 (2011: 4.4m) at an average price of £14.70 (2011: £11.10)

Final dividend of 14.0p (2011: 11.0p) making a total dividend of 23.0p for the year (2011: 18.0p), up 28%

Average revenue per advertiser (ARPA) up 19% to £529 per month (2011: £443 per month)

Site traffic up 18% to 11.0bn pages (2011: 9.3bn pages)

Nick McKittrick, incoming Chief Executive Officer, said:

"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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