UK property website Rightmove posted a 23 per cent rise in annual revenue as the company profited from a trend towards online advertising and topped the list of most popular sites.
Revenues grew to £119.4m in 2012, compared to £97m in the previous year. Average revenue per advertiser was up 19% to £529 per month.
Underlying operating profit increased 26% year-on-year to £87.5m while underlying operating margin jumped to 73.% from 71.5%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rightmove reported a 31% jump in underlying basic earnings per share to 65.7p as site traffic increased 18% to 11bn pages.
The company issued a final dividend of 14p per share, bringing the total dividend for the year to 23p, a 28% increase from 18p in 2011.
Rightmove was in January ranked as the sixth most popular website in the UK among global brands including Google and Facebook.
"More than a decade of investment has established Rightmove as one of the UK's most popular online brands," said incoming Chief Executive Officer Nick McKittrick.
"We continue to invest in order to maintain our market-leading position and enable Rightmove members to promote their properties and brand in front of the most home movers. We've seen an encouraging start to the year with record traffic and enquiries and with a major new TV campaign launching next month, we're looking forward to that continuing throughout 2013."
Chairman Scott Forbes said a rapid growth in mobile internet has meant home movers have easier access to information on Rightmove, which led to more hits.
In turn, more property companies are opting to advertise online to improve their consumer reach, he said.
"With healthy growth in average spend per advertiser at the start of the year and assuming there is no significant deterioration in the UK housing market, the board remains confident of continued growth in the business in 2013," Forbes concluded.
Shares rose 1.57% to 1,750.00p at 11:25 Friday.
RD
-
How taking a two-year career break could leave a £26k hole in your pensionCareer breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storageSelling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits
