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    RMV   GB00BGDT3G23

RIGHTMOVE PLC

(RMV)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 09/22 10:13:01 am
733.8 GBX   +0.03%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rightmove : Rush to beat stamp duty cut off lifts Rightmove profits

07/30/2021 | 04:31am EDT

Profits at property search site Rightmove soared in the first half of the year amid surging demand in the UK housing market driven by the stamp holiday.

The company posted a pre-tax profit of £114.7m, up from £61.6m from the same period last year.

Read more: Property transactions surge to record high in June

Prospective homebuyers rushed to complete property purchases before the tapering of the stamp duty holiday on 30 June, which drove consumers to Rightmove’s property search portal.

Rightmove said web traffic hit record levels during the pandemic, with 1.4bn visiting the site in the first half of 2021, driven by prospective homebuyers searching for larger properties with gardens.

Peter Brooks-Johnson, chief executive of Rightmove, said: “The first half of 2021 brought further lockdowns, instilling in many a desire or motivation to move home.”

The company’s shares were up 0.41 per cent in morning trading.

Rightmove achieved record levels of web traffic during the pandemic, registering 1.4 billion site visits in the first half, as customers reassessed housing needs.

Read more: House prices to surge another £50,000 over next five years

The post Rush to beat stamp duty cut off lifts Rightmove profits appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on RIGHTMOVE PLC
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Financials
Sales 2021 302 M 411 M 411 M
Net income 2021 178 M 243 M 243 M
Net cash 2021 75,6 M 103 M 103 M
P/E ratio 2021 35,4x
Yield 2021 1,03%
Capitalization 6 258 M 8 538 M 8 528 M
EV / Sales 2021 20,5x
EV / Sales 2022 18,8x
Nbr of Employees 560
Free-Float 97,8%
Chart RIGHTMOVE PLC
Duration : Period :
Rightmove plc Technical Analysis Chart | RMV | GB00BGDT3G23 | MarketScreener
Technical analysis trends RIGHTMOVE PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 733,60 GBX
Average target price 657,17 GBX
Spread / Average Target -10,4%
EPS Revisions
Managers and Directors
Peter Brooks-Johnson Chief Executive Officer & Executive Director
Alison Dolan Chief Financial Officer & Director
Andrew Fisher Non-Executive Chairman
Jacqueline de Rojas Senior Independent Non-Executive Director
Andrew Robert Findlay Independent Non-Executive Director
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