Rightmove shares rocket to an all-time high

| Rosalind Renshaw

Rightmove share prices rocketed to an all-time high on Friday.

They went up by 13.36%, making them top of the day’s risers, after the portal announced results far stronger than analysts had been forecasting.

Anyone who has had shares in Rightmove since it became a plc nine years ago will have made a tenfold profit.

With revenue, profits, profit margin and subscriptions costs paid by agents all up – and, importantly, a significantly raised dividend pay-out to shareholders – the City was impressed.

Rightmove shares ended the day at 3,029p, having started Friday at 2,680p. At one stage in the day, they were up at 3,074p.

Or, as the Daily Mail put it: “Shares in Rightmove soared more than 13% yesterday after the online estate agent reported a surge in profits.”

A good day for online estate agents, obviously!

Friday’s finishing price for the portal compares with the 52-week low of 1,935p last October.

Rightmove launched on the stock market in March 2006, valued at what now seems the tiny figure of £306m with shares at £3.

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28 Comments

  1. danny
    March 2, 2015 at 08:03

    “Rightmove confirmed that although agents bitched and moaned for years about excessive prices push came to shove no-one dare leave them”….. Agents mutual has proved one thing, alot of people dont have the balls to make the change the wanted to happen so instead just dumped Zoopla

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    1. dave_d
      March 2, 2015 at 08:07

      Maybe a lot of people have brain cells…

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    2. Archie
      March 2, 2015 at 09:16

      For many it is called business planning and strategy.

      Report
  2. Yorkshire Agent
    March 2, 2015 at 08:36

    Markets are driven by fear and greed.  Time to take your profits and run, choppy waters ahead.

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  3. Archie
    March 2, 2015 at 09:14

    I am not surprised by this.  After last Friday’s news it was inevitable that share prices would rise.

     

    Of course the Board of OTM (and quite possibly its members/investors) will be wondering this morning ‘what went wrong?’. For all the hype OTM has certainly not had the desired effect.  Sure Zoopla has had a dent but the real reason behind OTM was to play as a contender to RM to bring costs down.

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    1. Property Pundit
      March 2, 2015 at 09:47

      And the web site has been live for just over five weeks. I bet you’re the type who opens a new office and when things don’t go quite the way you would have liked, close it after a few months.

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  4. GPL
    March 2, 2015 at 10:38

    Watching the slow but inevitable demise of Zoopla it does emphasise that the real battle for OnTheMarket.com is Rightmove, which we already knew.

    I refer back to earlier comments re Listing Properties online and the priority/timing. I now list with OnTheMarket first for 48-72 hours and already see clear evidence of the public going there first. We must continue this as OTM members because is the clearest example of the public following the property if they are guided and informed by agents.

    The Rightmove performance demonstrates how fat we have made this portal monster however we can and will pull it’s power supply when the Tipping Point comes. In the meantime we endure feeding the fat monster and it blindly thinks it will live forever.

    It reminds me of a group of estate agents incl me sitting in a hotel many years ago with the 2 biggest newspapers in separate rooms negotiating with us. Why?… because agents grew tired of being sh@fted by one and the other stepped in… it was the only way to force the sh@fting paper into line with what agents actually wanted.

    And so we arrive with the Rightmove scenario. If every High Street Estate Agent backs OnTheMarket then we can rid ourselves of this portal monster that projects the image of really being the one in charge of the UK Estate Agency industry when in fact around 16,000 Estate Agencies hold part of the power cable supplying this monster. It’s time to start pulling the plug folks or are we just here to serve Rightmove?

    OnTheMarket has given us a real alternative and I see it working already, however unless we all get on board our business will be dominated/blighted by Hikemove who is the fattest/biggest middle man I have ever seen!

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    1. Digital Expert
      March 2, 2015 at 11:11

      Sigh.

      Agents had their chance to rid themselves of RM (that monster that’s provided you with £m’s of business over the years) but they bottled it.

      In fact, 75% outright rejected OTM in favour of RM.

      It ain’t happening.

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    2. 1stTimeBuyer
      March 2, 2015 at 12:54

      God you do talk some rubbish, and very clearly have little genuine knowledge of driving visitors to a website, or the on-line consumer.

      I predict GPL starts to go quieter over the year, as OTM numbers over the year do little if any to excite.  It’s a fact they are struggling with visitor numbers, 6 weeks in or not, so what I’ve seen, they are pretty low considering the money spent and marketing out there.

      I’d guess perhaps the occasional spike in the days just after adverts on tv or radio, but then soon after drops straight back off. A spike still being minimal in the bigger picture vs RM/Z.

      The initial enthusiasm of what could be by those that have signed, will soon, if not already start hitting home, and doubts setting in. Yes, there will remain a decent number of stubborn agents, but ultimately, AM will fail. Because the strategy is all wrong, challenge underestimated by many of those unwittingly conned by AM sales reps.  Bit of a shame, as competition is a good thing. But many as they say, have tried and failed, as will AM.

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      1. GPL
        March 2, 2015 at 13:51

        1st Timer?…. Zzzzzzzzzzzzz

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        1. Property Pundit
          March 2, 2015 at 16:32

          Exactly GPL, he’s like a broken record and as much use. Bit like DE too.

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  5. Digital Expert
    March 2, 2015 at 11:07

    Those OTM agents have really ‘stuck it’ to Rightmove.

    See how they’re smarting?

    Looking forward to hearing tales about RM contract renewals in the latter half of the year. You guys have put yourself in a beautiful negotiating position. Your vendors would be proud – all those years as a professional negotiator finally paying off?

    Although I expect most of you will have cancelled your RM contracts by then?

    *laughs uncontrollably*

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  6. GPL
    March 2, 2015 at 11:47

    Ah Yes… the Single Digit Expert!

    You keep spinning on your Rightmove Finger!… they are already my 2nd choice portal and judging by the enquiries feeding in from OnTheMarket clients already know to go there first for New Instructions!

    For Newly Instructed Properties go straight to OnTheMarket as that’s where clients will see them first!

    That my Single Digital Expert is where Rightmove are now placed in my area – 2nd.

    Keep watching & learn DE… strategy is NOT sh@fting your members! Enjoy your rich share rewards… they won’t last forever.

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  7. Digital Expert
    March 2, 2015 at 11:51

    Were you talking about OTM leads when you referred to single digit?

    Of course RM are second, GPL. Of course they are.

    I’m just off to ride a unicorn.

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    1. Property Pundit
      March 2, 2015 at 16:33

      I wish you would, somewhere far on a one way ticket.

      Report
  8. GPL
    March 2, 2015 at 13:47

    Ah Yes… the Single Digit Expert! You keep spinning on your Rightmove Finger!… they are already my 2nd choice portal and judging by the enquiries feeding in from OnTheMarket clients already know to go there first for New Instructions! For Newly Instructed Properties go straight to OnTheMarket as that’s where clients will see them first! That my Single Digital Expert is where Rightmove are now placed in my area – 2nd. Keep watching & learn DE… strategy is NOT sh@fting your members! Enjoy your rich share rewards… they won’t last forever.

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  9. GPL
    March 2, 2015 at 14:00

    Well you know where the pointy bit goes DE…. right next to where your single digit goes!

    When you demonstrate your actual estate agency experience then I may be able to engage in a meaningful conversation however until you put your schoolbag and lollipop away I can’t… I wouldn’t talk to a child.

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  10. Digital Expert
    March 2, 2015 at 14:38

    Child? Listen to how you talk to people on here. Where most uphold at least some semblance of debate, you throw toys and insult. Embarrassing.

    I’m not an agent. I’m someone that agents pay to manage their marketing. Successfully, progressively, and profitably.

    ‘My’ agents, whom I advised not to touch OTM, are now Market Leader in all of the towns in which they operate, wherein last year they we’re mostly 2nd. Due to my advice, and the winning of all the agents stock/winning at instruction ahead of the OTM agents.

    I know for a fact this is happening all over the country. Probably to your stock.

    The one satisfying point about knowing about the dinosaurs, is knowing that they died out.

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    1. Property Pundit
      March 2, 2015 at 16:35

      You’re an absolute fantasist Digital Expert, changes like that don’t happen in the time frame you talk about here. God help businesses that ‘pay’ for your advice.

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      1. Digital Expert
        March 2, 2015 at 16:51

        Really? In a 3 month period, one agent can’t start instructing or selling more than another agent?

        More importantly, you DON’T monitor your business’ performance on a quarterly basis? Gold help your business if that’s the case.

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        1. GPL
          March 2, 2015 at 17:00

          Digital Expert?… modest too?!… is that your Jackboots I can hear marching up the High Street… what is the penalty for not conforming or obeying you?!

          Report
  11. Digital Expert
    March 2, 2015 at 17:05

    Wow. Being admonished for analysing business performance! On a business related forum.

    No bragging here, I honestly thought that every business owner did that.

    Um, I guess the penalty is ‘not being as good as you could be at business’?

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    1. Propman
      March 2, 2015 at 18:59

      Your arguments are incredibly unfactual and seem to be fairly emotionally driven. With you being a marketing analyst and advisor I’d expect much more logically driven responses. If I were you in your anti OTM stance (I can’t comment on how correct your opinion is- it’ll depend on your areas of business),  I would start by considering the advice to give in the event that OTM does begin gaining traction over Rightmove rather than dismissing it straight off as an impossibility.

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  12. Digital Expert
    March 2, 2015 at 17:06

    Tune in next week for:

    Why P&L sheets are pointless

    &

    Advertising: who needs it?

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    1. Property Pundit
      March 2, 2015 at 17:57

      You have really lost the plot now. Why you don’t go and give your expert opinions on other business forums, there are plenty out there? Maybe it’s because then you really will be out of your depth.

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      1. Digital Expert
        March 3, 2015 at 09:29

        If you think I’m talking rubbish I honestly worry for you.

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  13. GPL
    March 2, 2015 at 23:59

    The Duopoly?… Tattoo the following on your forehead Digital Expert…

    We made them, We break them.

    Tick Tock… Zhoopla

    then Rightmove!

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  14. Digital Expert
    March 3, 2015 at 09:29

    We make them, we break them?

    By that logic, Rightmoves success is down to you and their rates are your fault.

    Bless.

    Report
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