Interim Management Statement

Embargoed for release at 07.00 hours, 4th November 2009 RIGHTMOVE PLC INTERIM MANAGEMENT STATEMENT Rightmove plc ("Rightmove"), the UK's number one property search website, publishes its Interim Management Statement for the period from 1 July 2009 to 31 October 2009. Current trading Overview The last four months has continued to see healthy growth in revenue and earnings and strong cash generation. Usage of the Rightmove website has been at record levels, with August representing our busiest month ever with nearly 600 million page impressions, up over 40% on August 2008. The number of advertisers on the Rightmove website at the end of October stands at 17,600, up 5% from the low point in February 2009. This has been driven by continued healthy growth in agency membership and growth in new homes development numbers. Average revenue per advertiser Growth in average revenue per advertiser within our individual business units is also healthy. This is primarily the result of increased advertising spend on our expanding range of Choice products. Sales of Choice products are at the highest levels since their introduction over two years ago. Changes to pricing are progressing according to plan. Home hunters Activity on the websites is up strongly with page impressions for the period July to October 2009 up around 35% compared to the same period in 2008. Market share compared to on line competitors has strengthened, helped by our September 2009 TV advertising campaign. Enquiries being generated for our advertisers continue at much higher levels than in 2008 (up over 60% for Q3 2009 compared to Q3 2008). Agency Estate agency and lettings membership rose to 14,100 by the end of October, an 8% increase from the low point at the end of January 2009. Record sales of our Choice products have increased their penetration from 31% at the beginning of July to over 40% at the end of October (compared to 27% at the start of 2009). New homes The number of new developments coming to market from volume house builders has increased, consistent with the comments made by the publicly quoted house builders. Housing Associations continue to suffer from weaker government funding, dampening any recovery in overall development numbers. With a major developer win we now have all of the largest mainstream new home developers as advertisers. Choice products have also proved popular with developers with penetration increasing from 56% at the beginning of July to over 60% at the end of October (compared to 48% at the start of 2009). Holiday rentals and Overseas homes sales Holiday Lettings has traded strongly with sales to new advertisers holding up well compared to the record levels experienced at the start of the year. The list price per property advert for renewing customers now stands at £185 per annum compared to £119 little more than a year ago. Our Overseas property sales business continues to adapt to the challenging overseas market conditions with revenue having stabilised following a year of decline. Costs Cost savings of £5m announced a year ago will be fully achieved in 2009. Write offs and bad debt levels have returned to historic negligible levels. Our scalable and asset light business model means that increases in costs are likely to be very modest as we pursue the improved opportunities presented by current market conditions. Outlook The Board is confident of meeting market expectations for the current year and expects to achieve further progress in 2010. Contact: Nick McKittrick (FD) or Press Office, Rightmove plc 0207 087 0605

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Rightmove (RMV)
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