Rightmove plc is to commence a share repurchase programme up to a maximum aggregate consideration of £350 million.

The property portal aims to reduce the company’s share capital. As such, all ordinary shares repurchased under the programme will be cancelled.

For the first six months of the year, it has reported 7% revenue growth to £225.8m, while profit before tax climbed from £146.5m to £149.1m.

Rightmove expects to return over £400m to shareholders by 31st July 2027, including share buybacks of around £330m.