Foxtons Group PLC
LSE:FOXT
Foxtons Group PLC
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.
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.
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.
