Rightmove plc (RMV) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

All right, good morning and welcome to Right News Results for the first six months of 2024. I'm joined today by Alison Dolan, our CFO, and also Ben Winstanley, our head of IR. So I wanted to share a couple of key messages up front with you. Our platform and network effects remain unrivaled. We remain the place that homeovers come to in order to see virtually the entire UK property market with now ever-increasing utility coverage and segmentation. overall h1 results have been in line with our expectations strategically operationally and financially and our financial guidance today is unchanged from the agm trading statement in may and while we are in this room operational delivery and indeed innovation for our consumers and partners continue at pace back at our offices and out in the field The underlying markets of property are starting to look more positive and supportive, but as usual, the market is operating at different speed within different sub-segments, and we'll get back to this. Sorry, now we have this going the other way around. Oh, here we go. um so in that context right moves platform continues to demonstrate its strength we saw revenue growth of seven percent with the letting segment going up 12 year-on-year arpa of almost 1500 pounds is tracking in line with our guidance for the full year at 75 to 85 pounds growth membership is one percent higher compared to december 2023 driven by strength in the lettings market offset by a reduction in developments as new homes developers have slowed new starts The consumer spent 8.3 billion minutes on the Rightmove platform, slightly higher than last year, and very much confirming our central position in the property ecosystem. We continue to deliver strongly in our core five business pillars for the business. Just a ...