Rightmove to ramp up AI investment, reiterates outlook

(Sharecast News) - Rightmove unveiled plans to ramp up investment in technology on Friday, including increasing its use of artificial intelligence, as it seeks to bolster long-term profit growth. The blue chip property portal said AI was becoming "absolutely central" to how the business was run.

It therefore intends to accelerate execution in AI-powered operations, as well as improving the Rightmove app and search capabilities.

Rightmove said its investment plans were intended to support double digit underlying operating profit growth in the longer term.

However, it acknowledged that underlying operating profit growth - which in 2024 and 2025 ranged from 4% to 9% - would likely come in between 3% and 5% in 2026, as a result of the increased investment.

Revenue growth in 2026 was forecast to come in between 8% and 10%, unchanged on 2025's forecast.

It used the update to reiterate guidance for 2025, which also includes around 1% growth in membership and a 70% underlying operating margin.

Johan Svanstrom, chief executive, said: "AI is now becoming absolutely central to how we run our business and plan for the future.

"We are already working on a wide range of exciting AI-enabled innovations for the benefit of our partners and consumers, and see vast potential utilising out leading reach and connected data.

"We are investing to accelerate our capabilities, which we are confident will create an even stronger platform and higher growth business over time."