Foxtons Group ups dividend as revenue grows

February 3, 2016

FOXTONS GROUP PLC today announces Trading Update and Dividend Announcement

Foxtons plc, London’s leading estate agency, issues its trading update for the year ended 31 December 2015  ahead of its annual audited results announcement on 8 March 2016.

 The Group achieved a solid performance during 2015 with revenue growth across all business segments. Group turnover was up 4% to £150m, despite latest available data showing London property sales transaction levels being some 11% below prior year.

Foxtons sales volumes increased by 4% as a result of market share gains, excellent performance within their New Homes business and the continued successful expansion of their  branch network.

Mortgage broker arm Alexander Hall grew revenues by 32 per cent.

The  residential lettings business generated over 20,000 transactions during 2015 and is a consistent revenue stream for the Group.  As indicated in our Q3 statement, the mix within lettings shifted towards renewals with a record number of tenants extending their tenancies resulting in a lower level of new lettings stock availability in the market.

As for the year ahead Foxtons admits  it is too early to predict residential property sales transaction trends for 2016, however  the company enters 2016 with an encouraging sales pipeline, a strong lettings book and a proven strategy for further growth through organic branch expansion.

To read trading update in full click here.

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

Estate Agent Talk

Commonhold White Paper – Thoughts from the Industry

The sale of new leasehold flats in England and Wales is to be banned under Labour’s plan to end the  ‘feudal’ system. Labour wants to switch to Scotland’s commonhold system There are around 5 million leaseholders in England and Wales. Under commonhold, each flat owner would own the freehold of their home, but also have…
Read More →
Breaking News

Greenpeace Ruling Exposes UK Government Policy

In January 2025, Greenpeace brought a collective action against the Dutch state for failing to comply with a 2018 European Court of Justice ruling on nutrient neutrality. An appeal is expected: however, as the UK Government has adopted the same ‘tax builders for pollution others cause’ approach to reducing nutrient pollution, it may find itself…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove commentary on mortgage market + weekly tracker

Commenting on the mortgage market, Rightmove’s expert Matt Smith said: “The market has settled after the unexpectedly high inflation figure. Average mortgage rates on many products have trickled downwards, and we’ve even seen the return of some eye-grabbing sub-4% mortgage rates for those with the biggest deposits. It shows that mortgage lenders are still keen to…
Read More →
Breaking News

Government plans to ban new leasehold flats

With the Government’s plans to ban new leasehold flats, an expert says the system must be ready to cope. With the news that Government is to outline plans to ban new leasehold flats and adopt commonhold, with draft Leasehold and Commonhold Reform Bill to be published later this year, Scott Goldstein, Partner, Payne Hicks Beach,…
Read More →
bank of england interest rate
Breaking News

Bank of England Money and Credit Report – January 2025

Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals rose by £0.9 billion, to £4.2 billion in January.…
Read More →
Breaking News

Right to Manage: changes to legislation come into effect on Monday

On Monday 3 March further provisions within the Leasehold and Freehold Reform Act 2024 come into force, including Section 49 which concerns the change of non-residential limit on Right to Manage (RTM) claims. This secondary legislation will mean that residential leaseholders within a mixed-use scheme will qualify for RTM when the commercial element of a…
Read More →