0855 GMT - Rightmove can't afford to sit still after it rebuffed Australian real-estate advertiser REA's approach and peer OnTheMarket was acquired by CoStar, Wealth Club's Charlie Huggins says. The property website needs to step up innovation instead of relying on big price increases for growth as the pressure is on for it to deliver, Huggins writes in a note. Although operating margins are no longer rising, shareholders won't mind as long as this accelerates top-line growth, he says. Meanwhile, strategic growth areas like rental services show good early traction, he adds. "Rightmove still retains a very dominant position...However, with CoStar snapping at its heels, it certainly cannot afford to rest on its laurels." Shares are up 2% at 655.40 pence. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
February 28, 2025 03:55 ET (08:55 GMT)
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