Rightmove ads up | IBTimes

Rightmove ads up | IBTimes

Property website Rightmove said revenue increased by 26% to 81.6m in the year to end-December 2010 (2009: 64.5m). A final dividend of 9p was declared.

Underlying operating profit increased by 39% to 56.6m (2009: 40.6m).

Underlying operating margin was up from 62.9% to 69.4%.

Underlying basic earnings per share were up 34% to 39.8p from 29.6p.

Net cash at year end was 23.1m (2009: 3.4m).

4.2m shares were bought back during 2010 (2009: 1.1m) at an average price of 7.05 (2009: 4.84).

Rightmove said the number of advertisers grew by 2% to 18,042 (2009: 17,664) and the average revenue per advertiser (ARPA) was 379 per month (2009: 308 per month).

The company proposed a final dividend of 9p (2009: 7p) making a total dividend of 14p for the year (2009: 10p).

The net consideration for Rightmove's 66.7% stake in the Holiday Lettings business, sold in June 2010, was 20.9m including 5.1m contingent consideration, representing a seven-fold return on investment since 2007.

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