Rightmove : Set for contraction in the operating margin following increased investment
>Underperform recommendation reiterated - On Friday, 3 March, Rightmove reported annual 2022 results broadly in line with our expectations and held its conference call immediately afterwards. Adjusted operating profit totalled £ 245.4m vs £ 249m estimated mainly due to costs a shade above our expectations. ARPA (average revenue per advertiser) rebounded by 11% to £ 1,314 vs 2021 driven by prices. We are lowering our expectations for 2023 following management’s indicat...Rightmove operates as an online property portal. Co. provides consumers with a place to search and research U.K. property and by providing its customers a place to reach home hunters. Co.'s segments are: The Agency, which provides resale and lettings property advertising services on Co.'s platforms; and The New Homes, which provides property advertising services to new home developers and housing associations on Co.'s platforms. Co.'s customers are primarily estate agents, lettings agents and new homes developers advertising properties for sale and to rent. Co. also provides software, delivering data, market insight and tools that provides insight, analysis and risk assessment tools.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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