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Top property website revenues up despite housing slump
31.08.2010
If the medium is good it can weather the storm.
Rightmove managed to increase sales against a backdrop of poor housing sales. On Friday, it said half-year operating profit is 40 percent higher than the same period last year at £27.9 million, on 26 percent higher income of £42.3 million.
It says all its growth has come from estate agents advertising new and reopened business premises, rather than either agents’ or direct customers’ home ads. Indeed, the number of ads for new housing developments has declined significantly.
