Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Rightmove
Rightmove LON:RMV has published a half year report this morning. Overall numbers of property transactions may be down almost 5% from a year ago, but the company has managed to increase its sales by 10%. Average revenues per advertiser rose faster than had been expected and the company is confident that it can meet its full year targets. With almost the entire UK home sales market in one place, the company is now developing innovative products for the rental market and further product expansion is going to be necessary if the growth can be maintained.
Foxtons Group
Keeping with property, Foxtons LON:FOXT has published a half year statement today, too. Falling London property prices continue to take a toll on the business, with sales revenues down almost £2 million or 3.6%. The rental market continues to provide the business with some stability, but with London house prices set to remain under pressure, the outlook is far from bright.
Pearson
Educational publisher Pearson LON:PSON also has an update for the last six months out today. Underlying revenue growth is ticking higher and the company has upgraded its EPS guidance for the full year by virtue of some technical changes. Sales are on track for 2019 and growth is expected to seen in 2020.
