Prop­erty por­tal sees profit in­crease

Yorkshire Post - Property - - PROPERTY -

RIGHT­MOVE’S half-year re­sults re­veal a big rise in prof­its, with agents pay­ing 14 per cent more on aver­age per month to list their properties than last year.

Rev­enue for the six months to the end of June was up 16 per cent to £57.9m. Un­der­ly­ing prof­its were up 15 per cent to £49m against £42.6m for the same pe­riod last year. Right­move’s un­der­ly­ing profit mar­gin was 73 per cent.

Page im­pres­sions rose 22 per cent to 7.2bn and the num­ber of ad­ver­tis­ers went up 3.5 per cent in the first six months to 18,916.

Mean­while, there are chal­lenges to the prop­erty por­tal’s supremacy, in­clud­ing York­shire­based Prop­erty Net­work, the app that uses Face­book to give house hunters in­for­ma­tion.

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