Rightmove, the UK’s leading property website, sought to draw the line under a difficult summer as it announced a doubling in turnover for the first half.
Since the government’s U-turn on the introduction of home information packs (Hips), which Rightmove had planned to sell on behalf of estate agency chains, the group has sold the proposed part of the business at a cost of £8.2m.
It will also sell its 25% stake in TMG Holdings, a property search service, which is expected to raise £3.25m before costs.
Pre-tax profit fell to £1.6m (£3.4m) for the six months to 30 June.
References: Financial Times 02/09/06 page 14, Daily Telegraph 02/09/06 page 29, The Times 02/09/06 page 54, The Guardian 02/09/06 page 24, The Independent 02/09/06 page 44
