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Rightmove's profits move in the right direction |
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Written by Business Weekly
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Friday, 02 March 2007 |
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Milton Keynes-based online property group Rightmove has reported a 101 per cent leap in pre-tax profit for the full year along with an 85 per cent sales boost.
Following an 80 per cent increase in the usage of its website, Rightmove saw sales go up from £18.2m last year to £33.6m, causing pre-tax profits to surge to £17.7m from £8.8m for the year ended December 2005. “The outlook for continued growth remains strong. Membership numbers continue to grow, with very high retention rates,” MD, Ed Williams said in a statement. The announcement saw Rightmove's share price rise two per cent to 482p. |
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