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Rightmove profits surge

Profits at property website Rightmove are up 63% due to a "major structural shift" in property advertising from newspapers to the internet.

In the six months to June 30, the group saw pre-tax profits rise to £19.8m. It expects to meet annual forecasts.

It said the biggest rise in customer spending came from new home developers which are investing in online adverts. Shares slipped 7½p to 309p.

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