Foxtons Group PLC
LSE:FOXT

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Foxtons Group PLC Logo
Foxtons Group PLC
LSE:FOXT
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Price: 57.7 GBX -3.03% Market Closed
Market Cap: 170.1m GBX

Foxtons Group PLC
Investor Relations

Foxtons Group Plc operates as a holding company, which provides real estate services. The firm and its subsidiaries are engaged in the provision of services to the residential property market in the United Kingdom. The firm operates through three segments: Lettings, sales, and mortgage broking. The letting segment earns commission from the letting and management of residential properties and income from interest earned on tenants’ deposits. The sales segment generates commission on sales of residential property. The mortgage broking segment receives commission from the arrangement of mortgages and related products under contracts with financial service providers and receives administration fees from clients. The firm provides property management services and corporate services. The property management services include 24/7 services when they rent a property, emergency services, and six months free letting. The company also provides technology support throughout the sales and lettings processes.

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FOXT
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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Jul 30, 2024
AI Summary
Q2 2024

Revenue Growth: Foxtons delivered 11% revenue growth for the half, reaching GBP 78.5 million, despite a flat London sales market.

Profitability: Adjusted operating profit rose 24% year-on-year to GBP 8.5 million, with margins up 120 basis points to 10.8%.

Market Outperformance: Foxtons achieved a 30% increase in sales exchange market share and double-digit growth in lettings new business volumes, outpacing the wider market.

Operational Leverage: Profit growth outpaced revenue, demonstrating the benefits of business model improvements and operating leverage.

Recurring Revenues: Nearly 70% of revenue came from noncyclical, recurring activities, supporting greater financial resilience.

Guidance & Outlook: Full-year outlook remains unchanged, with management confident about continued growth and on track for the GBP 25–30 million medium-term profit target.

Dividend: Interim dividend increased 10% to 0.22p per share.

Key Financials
Revenue
GBP 78.5 million
Adjusted Operating Profit
GBP 8.5 million
Adjusted Operating Profit Margin
10.8%
Adjusted EBITDA
GBP 10.5 million
Statutory Profit Before Tax
GBP 7.5 million
Net Free Cash Outflow
GBP 0.9 million
Interim Dividend Per Share
0.22p
Lettings Revenue
GBP 52.4 million
Lettings Contribution
GBP 39.3 million
Lettings Adjusted Operating Profit
GBP 12.9 million
Sales Revenue Growth
28%
Sales Adjusted Operating Loss
GBP 3.7 million
Under-Offer Pipeline
up 21% year-on-year
Financial Services Revenue Growth
7%
Earnings Call Recording
Other Earnings Calls
2024
2023
2022
2021

Management

Mr. Guy Stewart Gittins
Group CEO & Executive Director
No Bio Available
Mr. Christopher James Hough
CFO & Executive Director
No Bio Available
Mr. Imran Soomro
Chief Information Officer
No Bio Available
Muhammad Patel
Investor Relations Manager
No Bio Available
Lorraine Thompson
Director of Customer Services & Compliance
No Bio Available
Mr. Jean Jameson
Chief Sales Officer
No Bio Available
Mr. Steve Rodgers
Marketing Director
No Bio Available
Ms. Frances Giltinan
MD of Lettings Property Management & Customer Experience
No Bio Available
Ms. Sarah Tonkinson
Managing Director of Lettings Build to Rent
No Bio Available
Gareth Atkins
Managing Director of Lettings
No Bio Available

Contacts

Address
London
Chiswick Park, 566 Chiswick High Road
Contacts
+442078936000.0
www.foxtonsgroup.co.uk