Right Move Plc
Rightmove plc
33 Soho Square
London
W1D 3QU
2009 FULL YEAR RESULTS High Lights Rightmove plc-
the UK's number one property website, today announces its Full
Year results for the year ended 31 December 2009.
Feb 26, 2010 (PR Newswire Europe via COMTEX)
* Revenue fell by 6% from GBP74.0m to GBP69.4m and costs(1) were reduced by 17% to GBP27.5m (2008: GBP33.0m)
* Underlying operating profit(1) increased by 2% from GBP41.0m to GBP41.9m
* Underlying operating margin(2) up from 55% to 60%
* Underlying EPS up 28% to 30.5p from 23.8p
* Net cash at 31 December 2009 of GBP3.4m (2008: net debt of GBP16.9m) with the outstanding debt of GBP22.5m retired early in February 2010 with no penalties
* 1.1m shares bought back during 2009 (2008: 11.9m) at an average price of GBP 4.84 (2008: GBP3.78)
* Number of advertisers grew by 6% to 17,664 (2008: 16,741)
*Average revenue per advertiser (ARPA) at GBP308 per month (2008: GBP307 per month)
*Proposed final dividend of 7.0p making a total dividend of 10.0p for the year (2008: 10.0p)
"The last 18 months have demonstrated the importance of Rightmove in leading a structural shift from traditional media to online property advertising. As early as April 2009 our revenues started to rise in contrast to traditional property advertising media which continues to decline."Ed Williams, Managing Director
For more information please contact: Rightmove
Ed Williams or Nick McKittrick
Rightmove plc Press Office +44 07894 255295
[video] Miles Shipside, rightmove.co.uk Commercial Director Nov 2009
