Business
Half-year Report - Replacement
Half-year Report - Replacement.
About this update from Rightmove Plc
[{"type":"text","content":"\n\nTHIS IS A REPLACEMENT OF THE RNS ISSUED AT 7AM\nFor a printer friendly version of this announcement please click on the link to open a PDF version\nhttp://www.rns-pdf.londonstockexchange.com/rns/0077Y_1-2024-7-26.pdf\n \nHALF YEAR RESULTS ANNOUNCEMENT FOR RIGHTMOVE PLC - SIX MONTHS ENDED 30 JUNE 2024\n \nRightmove plc, the UK's largest property portal, announces its unaudited results for the six months ended 30 June 2024.\n \nA strong financial performance during a period of investment, driven by continued demand from agents and new homes developers for our products and services\n \nReiterating full-year 2024 guidance\n \n\n\n\n\nFinancial Highlights\n\n\n\nH1 2024\n\n\nH1 2023\n\n\nChange vs 2023\n\n\n% Change vs 2023\n\n\n\n\nRevenue\n\n\n£192.1m\n\n\n£179.5m\n\n\n£12.6m\n\n\n7%\n\n\n\n\nOperating profit\n\n\n£131.6m\n\n\n£129.5m\n\n\n£2.1m\n\n\n2%\n\n\n\n\nUnderlying operating profit(1)\n\n\n£135.1m\n\n\n£133.2m\n\n\n£1.9m\n\n\n1%\n\n\n\n\nInterim dividend\n\n\n3.7p\n\n\n3.6p\n\n\n0.1p\n\n\n3%\n\n\n\n\nBasic earnings per share\n\n\n12.4p\n\n\n12.1p\n\n\n0.3p\n\n\n2%\n\n\n\n\nUnderlying basic earnings per share(2)\n\n\n12.8p\n\n\n12.5p\n\n\n0.3p\n\n\n2%\n\n\n\n\n· Revenue up £12.6m/7% to £192.1m, as both agents and new homes developers renewed contracts, upgraded their packages and invested in additional products\n· Operating profit of £131.6m, up 2% (2023: £129.5m)\n· Underlying operating profit(1) of £135.1m, up 1% (2023: £133.2m)\n· Basic earnings per share up 2% to 12.4p (2023: 12.1p); underlying basic earnings per share(2) up 2% to 12.8p (2023: 12.5p)\n· Operating profit and underlying operating profit include one-off acquisition costs of £0.6m, relating to HomeViews and the strategic long-term investment in Coadjute, as well as a one-off charge of £3.0m in relation to the investment in Coadjute (see Financial Performance and note 13): adjusting to remove the impact of these costs would mean that operating profit would be £135.2m, up 4%; underlying operating profit would be £138.7m, up 4%; and underlying EPS would be 13.2p, up 6%\n· Interim dividend up 3% to 3.7p per ordinary share (2023: 3.6p)\n· £100.2m of returns to shareholders through share buybacks and dividends in ...