# Rightmove reports strong H1 2025; 10% revenue rise and strategic growth - Link: https://www.directorstalkinterviews.com/rightmove-reports-strong-h1-2025-10-revenue-rise-and-strategic-growth/4121209224 - Published: 2025-07-25T07:20:27+01:00 - Author: Amilia Stone **[Rightmove plc](https://www.directorstalkinterviews.com/ftse-company/rightmove-plc/rmv.l)**( LON:RMV), the UK’s largest property portal, has announced its unaudited results for the six months ended 30 June 2025 **_Strong results and product delivery across the platform_** **Key headlines** ·    Leading platform and network effects remain very strong ·    Clear value recognition by our partners – highest H1 Estate Agency retention in over 10 years ·   Strategic Growth Areas of Commercial Property, Mortgages, and Rental Services delivering operationally and financially – combined revenue up 37%^(()^(1)) year- on-year ·    Technology innovation and AI usage have accelerated in the period ·    2025 guidance reiterated, with ongoing confidence in Rightmove’s long-term potential **Financial highlights** | ** ** | **H1 2025** | **H1 2024\*** | **Change vs 2024** | **% Change vs 2024** | | Revenue | £211.7m | £192.1m | £19.6m | 10% | | Operating profit | £145.4m | £131.6m | £13.8m | 10% | | Underlying operating profit^((2)) | £151.3m | £138.7m | £12.6m | 9% | | Interim dividend per share | 4.05p | 3.70p | 0.35p | 9% | | Basic earnings per share | 14.1p | 12.4p | 1.7p | 14% | | Underlying basic earnings per share^((4)) | 14.7p | 13.2p | 1.5p | 11% | _*Consistent with disclosure at FY24, the comparative underlying measures for H1 2024, issued on 26 July 2024, have been restated to exclude the transaction related- charges incurred during H1 2024 of £3.6m – see note 1b to the financial statements_ ·      Revenue up 10% on H1 2024, as Estate Agency and New Homes developer partners invested in upgrading their packages and purchased incremental products; total membership increased 1% across Agency and New Homes, compared to June 2024 ·   Underlying operating profit^(()^(2)) up 9% with underlying operating profit margin of 71%^(()^(3)) reflecting planned growth-focused investment and consistent with full-year guidance of 70% ·    Interim dividend up 9% to 4.05p per share (H1 2024: 3.70p) ·    £112.4m of surplus cash returned to shareholders through share buybacks and dividends (H1 2024: £100.2m); with 9.1m shares (1.2% of outstanding share capital) purchased and cancelled to 30 June (H1 2024: 10.1m, 1.2%) ·    Cash and cash equivalents, including money market deposits, of £42.4m (31 December 2024: £41.3m) ·    11% Underlying basic earnings per share^(()^(4)) growth ·    Average Revenue per Advertiser (“ARPA”)^(()^(5)) grew by £112, predominantly product-led, with particular strength in New Homes | **_ARPA_** | **H1 2025** | **H1 2024** | **Change vs H1 2024 | | _ _ |   |   |   | | Agency^((6))   | 1,520 | 1,417 | 103 | | New Homes^((7))   | 2,093 | 1,940 | 153 | | Total ARPA^((5)) | 1,609 | 1,497 | 112 | ·    Total membership increased, driven by growth in Agency members reflecting both retention and new agent formation ·      Agent formation returned to levels not seen since 2020, as the market is more conducive to new entrants ·      New Homes’ marginal increase reflects continued low levels of new build developments coming to market ·      Average total membership across the first half of the year was up 1% compared to H1 2024, with Estate Agency branches up 189/1% and New Homes developments up 73/3% | **_Membership_** | **30 June 2025** | **31 Dec 2024** | **30 June 2024** | **Change vs Dec 2024** | **Change vs Dec 2024 % ** | | Agency branches | 16,382 | 16,124 | 16,193 | 258 | 2% | | New Homes developments | 2,941 | 2,923 | 2,868 | 18 | 1% | | **Total membership** | **19,323** | **19,047** | **19,061** | **276** | **1%** | **Operational highlights** ·    **Consumer:** o  Sustained traffic growth, with a total of 9.1 billion minutes spent on the platform in the period, up 10%^((8)) (H1 2024: 8.3 billion) – second-highest on record.  Share of time was stable, >80% (Comscore) and >70% (SimilarWeb/Data.ai)^((9)).  Over 85% of traffic was direct and organic^((8)) o  We invested in engaging all generations through channels including Facebook, Instagram, LinkedIn and TikTok, across which engagement increased 3x year-on-year ^((10)) as well as increasing consumers subscribed to marketing to over 9m (+11% year-on-year) ·    **Partner:** o  Continued growth in the uptake of our top packages: – “Optimiser Edge” for estate agents, with 33% of independent agents subscribing( December 2024: 31%); and – the launch of a new top package “Ascend” for New Homes developers, with c.150 developments already on the new package (c.5% of developments). With the ratio of new builds to resale stock at a record low, developers turned to our marketing products to help compete for buyers o  Retention of existing partners was 96%, the highest first-half agency retention in over 10 years (H1 2024: 95%) o  Over 15m engagements with partners under the “Building Success Together” partnership programme, through inclusive tools such as Rightmove Hub for training – which saw a complete refresh in the period and is now used by 70% of estate agency branches– Rightmove Plus for business management, and account manager meetings ·    **Strategic Growth Areas:** o  Commercial Property attracted over 100 more partners, (+17% since December 2024), achieved over 60% of online user time^((11)) and sent 37% more leads to partners o  Rental Services saw c.270 more partners sign up to its end-to-end digital solution, Lead to Keys, of which over a third were new partners to Rightmove, with revenue growth of 34% o  Mortgages more than doubled its revenue year-on-year to £4.5m (H1 2024: £2.2m) introducing £20bn of potential lending to our partners (H1 2024: £11bn) o  Together, these three areas contributed £15.3m in revenue, up 37% on H1 2024, and 21% of Group revenue growth (H1 2024: 21% of Group revenue growth) ·    **Innovation:** o  Our product teams delivered more than 3,000 releases during the period, including cloud transformation and increasing adoption of AI o  Examples of new products for partners included Buyer Profiles and Appointment Requests for New Homes developers, a new data API for Commercial partners, and improvements to our Rentals AVM (Automated Valuation Model), upgrades to the Rightmove Hub, as well as pathfinding a new product in Estate Agency o  Examples for consumers included acceleration of property valuation tools usage, AI filters on our app, a global-first Property Checker within Mortgages, and a Renters Checklist within Rental Services **Current end-market trends** Property end-market trends remain supportive for our partners’ businesses.  Financial markets currently expect further cuts to the current Bank of England base rate of 4.25%^((12)) by the end of the year, with the lowest 2-year fixed mortgage rate at 30 June 2025 of 3.8%, down 88bps year-on-year.^((13))  In resale, sales agreed in H1 2025 were 6% ahead of H1 2024, while completions were up 22%, supporting pipelines and agent confidence.  In June alone, new listings and demand were up by 9% and 6% year-on-year, respectively: a positive backdrop for the remainder of the year. Within the lettings sub-market, supply and demand continue to rebalance, although enquiries per available property remain above pre-COVID levels.  New Homes developers remain optimistic, although developments in the market remain at relatively low levels. **O****utlook** We continue to build a larger, more diversified, digital Rightmove ecosystem in line with our strategy. For the full year, we continue to expect revenue growth of 8-10%, benefiting from: the full-year impact of Optimiser Edge uptake; further product-led growth across our core business; and continued progress within our Strategic Growth Areas of Commercial Property, Mortgages and Rental Services.  We continue to expect c.1% growth in membership and ARPA growth of £95-£105 for the year across Estate Agency and New Homes developers. H2 will see ongoing revenue growth, but following last year’s record H2 we expect the year-on-year revenue growth percentage in H2 to be lower than H1. We continue to invest in innovation and value delivery for our consumers and partners across the Rightmove platform.  We expect an underlying operating margin of 70% for FY25. The strength of our business model, our clear strategy, and our focus on innovation underpin the Board’s confidence in Rightmove’s outlook for 2025 and beyond. > **Johan Svanstrom, Rightmove Chief Executive Officer, said:** > _“These results highlight the strength of our platform and how we serve our long- > term partners with products tailored to their circumstances and needs. 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._ > _“Our investment in technology and people is yielding results and with continued > innovation, we remain committed to improving consumers’ overall moving journeys, > and enabling our partners to grow, compete, and succeed. We see a long runway > of opportunity for digitalisation of the property ecosystem, and confirm our financial > outlook for the year.”_ **The Company will present its results at a meeting today for analysts and investors at 9:30am, available online here: ** https://edge.media-server.com/mmc/p/xbpggc54 [5155S_1-2025-7-24](https://www.directorstalkinterviews.com/wp-content/uploads/2025/07/5155S_1-2025-7-24.pdf) [Download](https://www.directorstalkinterviews.com/wp-content/uploads/2025/07/5155S_1-2025-7-24.pdf) Share on: