Rightmove (LON:RMV) announced that 2009 results are expected to be in line with market expectations. The British based online property search business is the UK market leader with more users, more advertising members and more properties than any other UK property website. It had 17,600 advertisers at the end of October. It receives around 40m visits a month on average.
The Company also boosted profit hopes by reporting a very strong January due to increased consumer confidence, higher spend per advertiser, a positive uptake on new advertising products and a strong subscription model. Going forward, the Board indicated its confidence that expectations will be met, "subject to no dramatic changes in the market place".
Numis Securities now expects profits of £50 million in 2010, up £5m on its previous guidance and £10m higher than the £40m it expects for the 2009 results. Confirmed 2009 results, as well as a detailed 2010 outlook, will be published on Friday 26th February 2010.
