25th Jul 2025 08:57
(Alliance News) - Rightmove PLC on Friday said developers of new homes in the UK remain optimistic, as the property selling website reported a climb in profit, revenue and a higher interim dividend.
The Milton Keynes, England-based real estate portal operator said pretax profit rose 10% to GBP146.5 million in the first half of 2025 from GBP132.7 million a year before, thanks to 10% revenue growth to GBP211.7 million from GBP192.1 million.
Administrative costs increased 9.6% to GBP66.3 million from GBP60.5 million.
Rightmove declared an interim dividend of 4.05 pence per share, up 9.5% from 3.70p the year before.
Average revenue per advertiser increased 7.5% to GBP1,609 in the six-month period from GBP1,497 a year earlier.
Rightmove said it continues to build a larger, more-diversified property ecosystem in line with its strategy. The company added that supply and demand continues to rebalance in the lettings sub-market, but enquiries per available property remain higher than before the Covid pandemic.
"These results highlight the strength of our platform and how we serve our long-term partners with products tailored to their circumstances and needs," said Chief Executive Officer Johan Svanstrom.
"Against a backdrop of a positive market for agents, we have seen an increase in agent formation and estate agents using our top package, Optimiser Edge, which helps maximise their performance. Developers of new builds are turning to marketing products including our new Ascend package to help compete for buyers when the ratio of new builds to resale stock is at a post-Covid low."
Looking ahead, Rightmove continues to expect revenue growth of between 8% and 10% in 2025, as well as around 1% growth in membership and average revenue per advertiser growth of GBP95 to GBP105 across Estate Agency and New Homes developers.
The company expects to see ongoing revenue growth in its second half, but anticipates the on-year percentage growth figure to be lower than in the first half.
Rightmove expects a full-year underlying operating margin of 70%, the same as in 2024. This compares to 71% in the first half of 2025 and 72% in the first half of 2024.
Julie Palmer, partner at Begbies Traynor, commented: "Following record sales last year, the downgrade to its house price forecast points to a more challenging second half for Britain's biggest property portal, particularly as higher stock levels and affordability concerns weigh on buyer sentiment. While falling mortgage rates and looser lending criteria may support activity, political and economic uncertainty could dampen any recovery."
Rightmove shares were down 0.8% to 788.60 pence on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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