Web site Rightmove says trading strongly - Yahoo! Finance

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Tuesday May 6, 12:23 PM
Reuters

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Web site Rightmove says trading strongly

LONDON (Reuters) - Property Web site operator Rightmove <RMV.L> shrugged off the gloom surrounding the housing market on Tuesday, saying it was gaining market share and confident of meeting analysts' full-year expectations.

"Rightmove (LSE: GB00B0MFTM73.L - news) has continued to trade strongly since the start of the year, with continuing growth in advertiser numbers, traffic and revenues, the firm said in a trading update, adding that property advertising in regional newspapers was bearing the brunt of the slowdown.

"Even reflecting a weak outlook for the UK housing market and for property advertising generally, the board has confidence in meeting market expectations for the current year."

(Reporting by Mark Potter, Editing by Dan Lalor)

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