Rightmove, the property website has revealed its remains confident of beating full-year expectations after recording its second largest monthly operating profit in July.
The firm posted an underlying operating profit of £19.9m for the first six months of the year, down 4 per cent from last year’s profit of £20.8m, and an 11 per cent fall in revenue, from £37.8m to £33.6m.
However, last month the company recorded the highest monthly revenue for the year-to-date and the second highest-ever monthly operating profit as operating costs were slashed by 19 per cent to £13.7m.
Overall membership rose slightly to 16,874, while the number of estate agent members increased by 2 per cent in the six months to June 30.
Rightmove also revealed website traffic during the first half was up 3 per cent year-on-year, with page impressions hitting 3.2 billion.
It pointed out that the growing traffic on its website signals that buyers are returning to the property market.
Managing director Ed Williams said the board is "confident of exceeding market expectations for 2009 and achieving further growth in 2010".
He added that roughly three quarters of all UK estate agent enquiries now originate from the online property portal.
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