Rightmove has just unveiled its audited results for the year ended 31 December 2024
It posted annual results showing a 7% rise in revenues to £389.9 million and underlying operating profit 4% higher at £273.9 million,
Average revenue per advertiser rose £93 to £1524 per month, with total membership up 1% to 19,047 after the number of estate agency branches rose 2% and new homes developments fell 1%.
In 2025, Rightmove said it expects revenue growth of 8-10% as it benefits from uptake of its top-end packages.
The group has forecast 1% growth in membership and a rise in average revenue per advertiser of £95 – £105 across estate agency and new homes developers.
Financial highlights |
2024 |
2023 | Change vs 2023 | % Change vs 2023 |
Revenue | £389.9m | £364.3m | £25.6m | 7% |
Operating profit | £256.3m | £258.0m | (£1.7m) | (1%) |
Underlying operating profit | £273.9m | £264.6m | £9.3m | 4% |
Final dividend | 6.1p | 5.7p | 0.4p | 7% |
Total dividend for the year | 9.8p | 9.3p | 0.5p | 5% |
Basic earnings per share | 24.4p | 24.5p | (0.1p) | (0%) |
Underlying basic earnings per share | 26.2p | 25.2p | 1.0p | 4% |
Chief executive Johan Svanstrom said: “We delivered strong results, demonstrating yet again the resilience of Rightmove’s business model. Consumers visited the Rightmove platform 2.3 billion times in 2024, and with the UK’s largest selection of properties for sale and to rent they spent a combined 16.4 billion minutes searching and using our expanding set of valuable tools.
“We’re continuing to invest in technology and products to make the platform even more useful and effective for both partners and consumers. 24 AI-enabled teams of software engineers delivered over 5,000 releases, features and enhancements in 2024.
“We have a clear strategy to further digitise the home moving market, powered by the UK’s largest set of property data and insights. There is a long runway of opportunity to both broaden and deepen Rightmove’s services on one connected platform, and our team is continuing to drive that momentum in 2025.”
Rightmove said it was the fourth-busiest UK-based digital platform in 2024, behind the BBC, digital publisher Reach and the government’s website.
Read the orginal article: https://propertyindustryeye.com/eye-newsflash-rightmove-revenues-up-7-forecasts-2025-growth-as-estate-agency-members-rise/
