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Rightmove’s revenue up 85%

Rightmoves trading update for 2006 reveals that revenue for the full year is expected to hit about 33.6m, an 85% increase from 2005.

Profit before tax on an adjusted basis is expected to be slightly above the range of analysts’ estimates of 17.0m to 17.4m, primarily as a result of stronger sales.

By the end of 2006 an estimated 83% of all estate agents in England and Wales were listing their properties on the Rightmove website.

The retention among advertisers is 93% for 2006 which is close to the top end of the range achieved in previous years.

Rightmove net cash balances at December 31 2006 amounted to 14.8m, up from 5.2m at June 2006.

Also, 2007 will see the launch of new advertising services allowing Rightmove
members to differentiate their brands, branch offerings and listings as well as
providing new revenue streams to Rightmove.


Don’t refer MPPI to Competition Commission, says CML

The Council of Mortgage Lenders says mortgage payment protection insurance should be excluded from the Office of Fair Trading’s referral of payment protection insurance to the Competition Commission.The CML says MPPI provides an important safety net for home-owners. With just over a million claims paid since 1998, it believes MPPI has saved many households from […]

AMI concerned by FSA mortgage advice findings

The Association of Mortgage Intermediaries says it’s concerned by the Financial Services Authority’s findings on the quality of intermediaries’ mortgage advice.While the FSA gave larger networks and brokerages a thumbs up, describing them as having “robust” processes in place, smaller firms were found to have work to do to improve their advice and record keeping […]

TMP to help chldren’s hospice

Claire House Children’s Hospice is The Mortgage Partnership’s charity of choice to support in 2007. TMP has pledged its support for the whole year. The new year is wellunderway and it is traditional at this point to reassess priorities and aspirations. For some this will mean gym memberships, faddy diets and trips abroad. For others […]

Rental yields hit five-year annual low

New rental yield data released by Landlord Mortgages reveals that rental yields hit a five-year annual low in 2006. Scottish rental returns showed the largest drop, falling from 8% in 2002 to 6.46% in 2006. Less dramatic declines were recorded in England, a fall from 7.1% to 5.74%, and London where yeild decreased from 6.37% […]


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