Foxtons Group plc announce financial results

Foxtons Group plc, London’s leading estate agent, today announces its financial results for the year ended 31 December 2015.

In their operational summary they state:

Revenue growth across all segments (Sales +3.4%, Lettings +2.3%, Mortgage broking +31.8%)

Both Sales and Lettings segments operating at Adjusted EBITDA margins in excess of 30%

A strong lettings business generating 46% of Group revenue providing a balance to the naturally more cyclical sales market

Continued successful organic expansion with seven new branches opened in 2015, bringing the total at year end to 58 branches

Seven further branches secured for 2016

Commenting on today’s statement, Nic Budden, Chief Executive Officer 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.

To read the financial results announcement in full  visit Foxtons website

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Housing Ombudsman’s report demonstrates necessity of vibrant and growing private rental sector

Following a recent report from the Housing Ombudsman titled ‘Spotlight Report: Repairing Trust’, which revealed that 2024/25 witnessed a 474 per cent surge in complaints about poor living conditions compared to 2019/20, Propertymark has stated that this demonstrates the necessity for a vibrant and growing private rental sector. Referencing the UK Government’s ambition to construct…
Read More
Breaking News

Inheritance Tax Receipts raise £1.5 billion in two months

Inheritance tax receipts hit £1.5 billion in the first two months of the current tax year, according to data released by HM Revenue and Customs (HMRC) this morning. This is £98 million higher than the previous tax year, and continues an upward trend over the last two decades. Nicholas Hyett, Investment Manager at Wealth Club…
Read More
Breaking News

Propertymark Responds to Boiler Scheme Consultation

Responding to the Department for Energy Security and Net Zero’s Boiler Upgrade Scheme and Certification requirements for clean heat schemes consultation (England, Wales and Scotland), Propertymark has stressed the concerns of property agents that landlords are struggling to afford energy efficiency improving measures and warn that the scheme must evolve to protect the availability of…
Read More
bank of england interest rate
Breaking News

Industry Reaction to Bank of England’s decision to hold interest rates at 4.25%

Following a previous cut in May, the rate has today been held at 4.25%. This comes as a result of inflation easing slightly to 3.4% (May 2025), but remaining higher than the Bank of England target rate of 2.0%. The decision to hold the base rate by the Monetary Policy Committee was the result of…
Read More
Breaking News

Rents Climb as High as 17.4%

The latest market analysis by London lettings and estate agent, Benham and Reeves, has found that rents across Britain have surged by as much as 17.4% in some areas since the Labour Government adopted the proposed Renters’ Rights Bill which is likely to become law later this Summer after the Bill enters the House of Lords…
Read More
Breaking News

Breaking Property News 19/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Cloud-based practice management platform launches at Taylor Rose Taylor Rose parent AIIC Group rolls out cloud-based practice management platform AIIC Group (“AIIC”), the legal group behind law firms Taylor Rose, FDR Law and Kingsley Wood, is rolling out a new fully cloud-based practice management…
Read More