Rightmove PLC

Latest Results (23.10.2026):

Rightmove PLC — H1 2026 (six months to 30 June 2026): the group reported solid first-half results with revenue of £225.8m (up 7% vs H1 2025), underlying operating profit of £155.1m (up 3%), and underlying EPS of 15.6p (up 6%). Agency performance was the main driver, retention reached a >10‑year high, Strategic Growth Areas (SGAs) continue to scale, and management has announced enhanced shareholder returns totaling more than £400m expected over the next 12 months.

Financial performance

Total revenue £225.8m (+7% YoY). Underlying operating profit £155.1m (+3%). Underlying EPS 15.6p (+6%). Dividend per share 4.17p (+3%). ARPA £1,726 (+£117). Cash returned in H1 £124.7m (+11%).

Segment highlights

Agency revenue £163.9m (+9%) drove overall growth. New Homes revenue £38.2m (+2%) but remains volume‑challenged. SGAs (Commercial, Rental Services, Mortgages, etc.) grew 14% to £17.5m; notable splits: Commercial +13%, Rental Services +67%, Mortgages -24%.

Operational & product progress

Estate agency retention at 96% — the highest H1 retention in over 10 years. Strategic Growth Areas are reported on track for 20–30% FY growth. Technology and AI deployments are being rolled out (Ascend adoption at 36% of New Homes top package after launch), and product-driven ARPA improvements account for a meaningful portion of ARPA uplift.

New Homes market context

New Homes remains a volume headwind: developments on site were 2,766 (‑4% vs Dec‑25) and the rate of new developments joining is materially lower than pre‑pandemic. Rightmove emphasises product enhancements (Ascend, enriched lead features) to drive quality and recovery over time.

Costs, investment and people

Underlying operating costs £127.4m. Technology and other costs increased by about £10m (+17% YoY) as Rightmove scales platform and AI capability. Average headcount up ~37, with ~80% of new roles in technology.

Capital allocation & returns

Board expects enhanced shareholder returns of >£400m over the next 12 months, including an increase in buybacks (targeting c.£330m) alongside the progressive dividend. A new £200m RCF was added; H1 cash returned was £124.7m. Reported cash conversion remains strong (~108%).

Guidance update

FY26 revenue growth guidance revised to +6% to +8% (previously +8% to +10%), reflecting New Homes volume headwinds. SGAs remain on track for 20–30% growth. Underlying operating profit guidance +3% to +5%; underlying EPS growth target ≥5%. Management reiterated a floor margin of 67% and noted exceptional costs of £4–7m.