Sandra Odell

Rightmove prepares to reveal 2019 full results on 28th February

Yes, it’s that time of year again. Rightmove has announced that its full results for 2019 are to be released to the City on 28th February, its company secretary Sandra Odell has announced. The results will be published at 7am followed by a presentation for analysts which will be held at the offices of Rightmove’s City adviser UBS at 9.00am. But while investors will be licking their lips in expectation of another set of record results to boost their client’s pension funds, ISAs and other investment vehicles, this year may not be the usual profits jamboree. Two dark clouds loom over Rightmove despite another 12 months of no-doubt incredible profits and continuing share buy-backs. Last year criticism of the annual price increases introduced by the company were at their most strident among agents annoyed by double-digit increases despite difficult sales and lettings markets. These pushed the annual revenue for the branch to over £1,000 a month for the first time, although many agents had been paying this for some time already. 23% increase One agent, Kristjan Byfield of Base Properties, revealed that his increase last year was 23%, a hike that the portal pushed through despite his strong complaints and…

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