Rightmove upbeat after 'healthy' growth in third quarter

7th Nov 2013 07:54

Property website Rightmove said it is confident of hitting full-year targets after healthy growth in revenue and earnings and strong cash generation since the first half. Average revenue per advertiser rose during the third quarter as customers continued to increase spend on additional advertising products to promote their brand and properties.The number of agency and new homes developments on the website stood at 18,372 at the end of October, up 2% since the end of June.The firm said it continued to promote the brand in the third quarter to further increase its audience reach by way of a national TV campaign, search-engine optimisation and developments in mobile platforms."The resulting activity on Rightmove has been strong with page impressions up around 30% compared to the same four months of 2012," it said.Meanwhile, the company also said that its overseas property and data-services business continue to trade healthily with oversea customer numbers rising 220 since the first half to 1,077 by the end of October."The board remains confident of making further progress in 2014, subject to there being no significant downturn in the UK housing market".The stock was 0.11% higher at 2,630p in early trading on Thursday.BC