Rightmove results drive off investors

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Rightmove results drive off investors
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Shares in FTSE 100 real estate platform Rightmove (LON:RMV) have dropped by 6.34% to 567.60p (as of 15:55 GMT) after revenues for the year ended 31st December contracted by 29%. Operating profits were down by 37% as margins also narrowed. Average revenue per member declined by 28% and member numbers fell by 3%.

CEO Peter Brooks-Johnson commented: “We remain mindful that 2021 may bring further Covid-related challenges, but we will continue to deliver our strategy to help make home moving easier, delivering the best solutions to our customers and the most engaging experience for our users“.

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