skip to content

Annual Results

Foxtons revenues rise

08 March 2016 07:19

Estate agent Foxtons Group's revenue rose by 4.1% to GBP149.8m in the year to the end of December but adjusted EBITDA fell by 0.4% to GBP46.0m as margins dropped to 30.7% (2014: 32.1%).

Profit before tax reduced by 2.6% to £41.0m (2014: £42.1m) but net free cash flow was up 17.1% to £32.0m (2014: £27.3m) and total dividends proposed for the year of 11.0p per share are up 13.4% (2014: 9.70p).

Chief executive Nic Budden said: "The Company performed well during 2015 generating revenue growth across all business segments. Our market leading position in London and strong customer proposition enabled us to significantly outperform in a sales market which was slow to recover post the General Election of May 2015. "Our successful branch expansion has supported growth as well as providing us with a wider, stronger network across London. We finished the year with 58 branches, of which over 80% are now outside central London (Zone 1). Since the year end, we have opened a further four new branches with three more scheduled for later in the year. "This positive performance, together with our strong cash flow generation, has enabled a 13.4% increase in total dividends proposed of 11.0p per share. "Looking ahead, the London residential property market continues to be highly attractive both in terms of sales and lettings although it is too early to predict how transaction volumes may be impacted by recent changes to the tax regime and the short term political and economic uncertainty caused by the UK referendum on leaving the European Union. We have entered the new year with an encouraging sales pipeline, a strong lettings book and a clear strategy for further growth through our organic branch expansion."

Story provided by StockMarketWire.com

Related Company: FOXT

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.