Rightmove reports a strong financial performance, driven by the resilient and growing customer demand for our products and services
Rightmove, the leading online property portal in the UK, recently reported an increase in revenue and profits for the first half of 2020. The company reported a total revenue of £170.8 million, an increase of 8% compared to the same period last year. Additionally, Rightmove’s profits rose by 11% to £122.6 million.
The increase in revenue and profits is attributed to a surge in demand for property listings during the coronavirus pandemic. Rightmove saw a record number of visits to its website, with over 1.2 billion visits in the first half of 2020. This was a 10% increase compared to the same period last year. The company also reported that the average time spent on its website increased by 8% to over 20 minutes per visit.
Rightmove’s CEO, Peter Brooks-Johnson, commented on the results: “We are pleased to report another strong set of results in what has been an unprecedented year. We have seen record levels of demand for our services as people look to move home during the pandemic. Our focus remains on providing the best possible service to our customers and helping them to find their perfect home.”
The company has also seen a significant increase in the number of properties listed on its website. Rightmove now has over 1.5 million properties listed, an increase of 8% compared to the same period last year. This is a testament to the company’s success in providing a comprehensive range of properties for potential buyers and renters.
Rightmove’s success is also due to its focus on providing an easy and convenient experience for customers. The company has invested heavily in developing its mobile app and website, making it easier for customers to search for properties and contact agents. Additionally, Rightmove has implemented a range of safety measures to ensure customers can view properties safely during the pandemic.
Overall, Rightmove’s impressive results demonstrate the company’s ability to adapt and thrive during difficult times. With its focus on providing a comprehensive range of properties and an easy and convenient experience for customers, Rightmove is well-positioned to continue its success in the future.