Foxtons Group (FOXT)

Sector:

Real Estate

Index:

FTSE Small Cap

54.70p
   
  • Change Today:
      2.00p
  • 52 Week High: 60.10
  • 52 Week Low: 34.30
  • Currency: UK Pounds
  • Shares Issued: 301.29m
  • Volume: 510,978
  • Market Cap: £164.81m

Foxtons says 2022 results ahead of expectations but outlook cautious

By Michele Maatouk

Date: Thursday 26 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Estate agent Foxtons said on Thursday that full-year revenue and operating profit were set to be ahead of market expectations following revenue growth across all segments, but struck a more cautious note on the outlook.
In an update for the year to the end of December 2022, the company said lettings, sales and the financial services division all delivered revenue growth, with group revenue ahead of market expectations, up 11% year-on-year at around £140m. Adjusted operating profit is also ahead of market expectations, it said.

Foxtons said that non-cyclical revenues from lettings and financial services, "which enhance the group's earnings resilience", now represent around 65% of group revenue. It also noted £10.6m of investment in lettings acquisitions in 2022, with the lettings portfolio now at around 26,500 tenancies.

Looking ahead, however, the firm was cautious as it expects the first half of 2023 to be more challenging than the previous year, with a more subdued sales market due to higher interest rates, inflationary pressures and general economic uncertainty.

"Lettings revenues are expected to remain resilient despite these headwinds," it said. "Whilst the group is cautious about the sales market outlook, the steady reduction in mortgage rates from the elevated levels seen immediately after the mini-budget is encouraging and may lead to more favourable markets as the year progresses."

At 1010 GMT, the shares were down 2.4% at 37.11p.

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Foxtons Group Market Data

Currency UK Pounds
Share Price 54.70p
Change Today 2.00p
% Change 3.80 %
52 Week High 60.10
52 Week Low 34.30
Volume 510,978
Shares Issued 301.29m
Market Cap £164.81m

Foxtons Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
19.84% above the market average19.84% above the market average19.84% above the market average19.84% above the market average19.84% above the market average
17.95% above the sector average17.95% above the sector average17.95% above the sector average17.95% above the sector average17.95% above the sector average
Price Trend
91.66% above the market average91.66% above the market average91.66% above the market average91.66% above the market average91.66% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
48.8% below the market average48.8% below the market average48.8% below the market average48.8% below the market average48.8% below the market average
61.29% below the sector average61.29% below the sector average61.29% below the sector average61.29% below the sector average61.29% below the sector average
Growth
20.2% below the market average20.2% below the market average20.2% below the market average20.2% below the market average20.2% below the market average
12.82% above the sector average12.82% above the sector average12.82% above the sector average12.82% above the sector average12.82% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Foxtons Group Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 03-Aug-23
Paid 28-May-24 12-Sep-23
Amount 0.70p 0.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 283,207 @ 54.70p
16:35 7,117 @ 54.70p
16:35 890 @ 54.70p
16:35 523 @ 54.70p
16:35 7,436 @ 54.70p

Foxtons Group Key Personnel

CFO Chris Hough
CEO Guy Gittins

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