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Interim Results

Foxtons revenue falls

29 July 2016 07:37

Foxtons said group revenue was down to £68.8m (H1 2015: £71.1m), while adjusted EBITDA fell to £13.1m (H1 2015: £20.5m).

HIGHLIGHTS

- Adjusted EBITDA margin of 19.1% (H1 2015: 28.9%)

- Profit before tax of £10.5m (H1 2015: £18.1m)

- Cash returns to shareholders during H1 2016 total £28.3m comprising total dividends of £17.1m and £11.2m of share buy-backs (H1 2015: £14.5m)

- Interim dividend maintained at 1.67p per share (H1 2015: 1.67p per share), while due to the uncertain economic environment a special dividend will not be paid (2015: 3.10p per share)

- Five new branches opened during the first half in line with our organic, self-funded expansion strategy taking the total number of Foxtons branches to 63. Two further branches on track to open during the second half.

Story provided by StockMarketWire.com

Related Company: FOXT

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