31st Jul 2026 12:38
(Alliance News) - Rightmove PLC on Friday delivered mixed news for investors, lowering full-year revenue guidance but announcing a new share buyback.
The Milton Keynes-based online property portal now expects 2026 revenue growth of 6% to 8%, reduced from 8% to 10% previously, when compared with GBP425.1 million in 2025. This reflects subdued new homes growth, Rightmove said, pointing to a 6% reduction of new-build developments from a year ago.
Despite the softer top-line view, Rightmove kept underlying operating profit guidance of 3% to 5%, and its underlying earnings per share outlook of at least 5%, unchanged, reflecting "cost discipline". In 2025, the FTSE 250-listing posted underlying operating profit of GBP297.7 million and underlying EPS of 29.1 pence.
Capital returns were in focus, with Rightmove announcing a new share buyback funded through higher leverage.
The company expects to return more than GBP400 million to shareholders by July 31, 2027, including around GBP330 million of share buybacks. A new GBP200 million revolving credit facility alongside cash from operations will fund the returns.
After a weak start, shares in Rightmove traded 2.3% higher at 467.10 pence early on Friday afternoon in London. They had earlier swapped hands at as low as 428.20p.
The updates came alongside results for the six months ended June 30.
Revenue increased 6.7% to GBP225.8 million from GBP211.7 million a year ago, supported by continued demand for incremental products and premium packages across the Core Agency and New Homes businesses.
Agency revenue grew 9%, New Homes 2% and Other 1%. Average revenue per advertiser growth was strong in both Agency and New Homes, at 8% and 7% respectively, although New Homes membership declined 4% in the half as a result of challenging market conditions and fewer new developments coming to market.
Rightmove flagged its highest first agency retention in over 10 years noting a strong uptake of top packages and new products in Estate Agency and New Homes.
Operating profit rose 1.9% to GBP148.2 million from GBP145.4 million on-year, or by 2.5% on an underlying basis to GBP155.1 million from GBP151.3 million.
Rightmove boosted its dividend by 3.0% to 4.17p per share from 4.05p. Basic earnings per share increased 5.0% to 14.8p from 14.1p, or by 6.1% on an underlying basis to 15.6p from 14.7p.
By Jeremy Cutler, Alliance News reporter
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