George Salmon, equity analyst at Hargreaves Lansdown, said: “That’s because Rightmove’s business, running a website, doesn’t cost a lot. As the group underwent huge expansion, costs were kept to a minimum, and as such margins are around 77%.
“That’s among the highest in the FTSE 100.”
Salmon goes on: “The other string to its bow is the fact it’s a must-have portal for traditional estate agents, which allows Rightmove to keep pushing its prices up.
“Last time we heard from the group, it was raking in £1,077 per branch, per month.
“That pricing power is particularly important, because it’s offsetting declines in the number of estate agents on the high street – down 3% at the half year.”
Read more here
Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.
Australian challenger portal Homely generated over 15.5 million enquiries in the 12 months from April 2023. Homely, which competes with...
Read More
Yandex N.V., the Dutch holding company of the marketplace giant Yandex, has released its financial results for the first quarter...
Read More
The rental portal operator Rent.com.au has released a report on its activities for Q3 of the Australian financial year. Highlights...
Read More
Schibsted, the Norwegian conglomerate that operates marketplaces in the Nordics, Europe and Latin America, has released its Q1 2024 numbers...
Read More
