Rightmove increases its 2016 interim dividend by 19%

DividendMax Ltd.

Rightmove increases its 2016 interim dividend by 19%

Revenue up 16% year on year with growth across all business areas

Underlying operating profit up 17% and operating profit up 21%

£66.0m (2015: £52.9m) of cash returned to shareholders through dividends and share buybacks in the period

Interim dividend increased by 3.0p to 19.0p (2015: 16.0p) per ordinary share, up 19%

Operational Highlights

Record customer numbers with Agency and New Homes customers up 229 (+1%) since the start of 2016 to 19,981

1.1 million UK residential properties advertised on Rightmove which is 40% more than on any other portal

Strong traffic growth with visits  up 15% to 127.5m per month and time on site up 9% to 1.05 billion minutes per month

Average revenue per advertiser (ARPA) up a record £90 to £830 per month on the same period a year ago

Further product, software and data innovation including the launch of our new search technology enhancing both the consumer experience and value of our product set

Nick McKittrick, Chief Executive Officer, said:

"Rightmove was visited over 750 million times in the first half of 2016, up 15% on last year, as consumers continue to turn to us first to search and research on the only place you can see virtually the whole of the UK property market. With the recent launch of our new search technology we are now delivering an even faster and richer experience for consumers to 'find their happy' from the 1.1 million UK residential properties advertised on Rightmove.

We are focused on helping our customers succeed by delivering the most significant and effective exposure for their properties and brand and being the largest source of high quality leads. In addition to the advertising efficiencies we deliver, we have continued to help our customers drive operational efficiencies through the software, tools and support we provide which draw on our unique data and insight across the UK property market.

Whilst the economic outlook is more uncertain due to the result of the EU referendum, the visibility provided by our subscription model coupled with the value provided by our products and the strength of the Rightmove brand and traffic give us confidence in delivering expectations for the current year."

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