Foxtons Group (FOXT)

Sector:

Real Estate

Index:

FTSE Small Cap

41.80p
   
  • Change Today:
    -1.00p
  • 52 Week High: 95.00
  • 52 Week Low: 31.55
  • Currency: UK Pounds
  • Shares Issued: 330.10m
  • Volume: 327,377
  • Market Cap: £137.98m

Foxtons Group narrows full-year loss

By Alexander Bueso

Date: Friday 28 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Real estate agent Foxtons Group posted a small full-year loss despite a large drop in revenues from sales, helped by cost-cutting.

For the year ending on 31 December, the company said that its statutory loss shrank from -£17.2m in 2018 to -£8.8m, in what the company described as a "robust performance in difficult market conditions".

Management pointed to higher market shares in sales and lettings, together with increased revenues from landlords to back up its case.

Total revenues were nevertheless 4% lower to £106.9m, as sales revenues declined 10% to £32.6m, offset by a 2% rise in revenues from lettings to £65.7m.

"In 2019 sales transactions continued to fall from the historic lows we saw the previous year. In addition, we saw fewer high value sales at the top end of the market, which impacted sales revenue, company boss Nic Budden said.

And its net free cash flow slipped from £0.1m the year before to -£2.6m.

Regarding the outlook, Budden continued: "Looking forward, with the uncertainty of the general election removed, early signs are that the sales market may improve during 2020.

"Our sales pipeline is currently ahead of last year, however we are well prepared for further challenging conditions in the sales market in the run up to Brexit and will continue to build our lettings business and manage our cost base in line with trading conditions."

In line with the company's distribution policy, no dividend was declared for the year.

Cash at period end stood at £15.5m versus £17.9m in 2018.

As of 1520 GMT, shares of Foxtons were 3.9% higher to 81.5p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Foxtons Group Market Data

Currency UK Pounds
Share Price 41.80p
Change Today -1.00p
% Change -2.34 %
52 Week High 95.00
52 Week Low 31.55
Volume 327,377
Shares Issued 330.10m
Market Cap £137.98m

Foxtons Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.2% below the market average46.2% below the market average46.2% below the market average46.2% below the market average46.2% below the market average
52.73% below the sector average52.73% below the sector average52.73% below the sector average52.73% below the sector average52.73% below the sector average
Price Trend
44.85% below the market average44.85% below the market average44.85% below the market average44.85% below the market average44.85% below the market average
46.43% below the sector average46.43% below the sector average46.43% below the sector average46.43% below the sector average46.43% below the sector average
Income Not Available
Growth
76.52% below the market average76.52% below the market average76.52% below the market average76.52% below the market average76.52% below the market average
81.13% below the sector average81.13% below the sector average81.13% below the sector average81.13% below the sector average81.13% below the sector average

Foxtons Group Dividends

  Latest Previous
  Final Interim
Ex-Div 26-Apr-18 31-Aug-17
Paid 25-May-18 26-Sep-17
Amount 0.27p 0.43p

Trades for 22-May-2020

Time Volume / Share Price
16:35 569 @ 41.80p
16:29 1,092 @ 41.70p
16:29 1,908 @ 41.70p
16:29 5,465 @ 41.40p
16:29 67 @ 41.40p

Foxtons Group Key Personnel

Chair Ian Barlow
CEO Nic Budden
CFO Richard Harris

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