Wednesday, May 9, 2012

Reuters: Financial Services and Real Estate: UPDATE 1-Advertising revenue boost for property website Rightmove

Reuters: Financial Services and Real Estate
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UPDATE 1-Advertising revenue boost for property website Rightmove
May 9th 2012, 07:02

Wed May 9, 2012 3:02am EDT

May 9 (Reuters) - British property website company Rightmove Plc reported a growth in advertising revenue for the first four months of the year on higher ad rates and increased traffic.

Rightmove, which runs United Kingdom's number one property website, also said it was confident of meeting its expectations for 2012 if the UK housing market doesn't decline significantly.

January-April average revenue per advertiser got a boost from new advertising products - like Rightmove's local valuation alert tool - and higher rates, the company said in a statement.

Website traffic rose more than 20 percent.

The London-based company's shares, which have risen over 16 percent since the start of the year, were flat at 1485 pence on Wednesday morning on the London Stock Exchange.

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