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

Property for sale
Estate Agent Talk

5 Top Tips for Increasing the Value of Your Home

For some people, buying a home, working on it and then selling it is the primary goal to keep upgrading homes. Whether you choose to re-decorate or re-model the property, a renovation of your home can help to keep the ball rolling towards enabling you to secure a profit on your next house sale. Whilst…
Read More →
Breaking News

Sdlt Hike Spurs Record Home Sales by Auction

iamproperty is crediting the recent Stamp Duty Land Tax (SDLT) hike and rising consumer awareness as the reasons behind a record-breaking quarter for Auction. The market conditions led to an 11% increase in the number of iamproperty Auction sales in the first quarter of the year, compared with the same period last year. iamproperty’s Partner…
Read More →
Breaking News

Changes to mortgage affordability to support sales as house price growth cools

House price growth has slowed to 1.6 per cent annually, down from 1.9 per cent at the end of 2024, as buyer interest cools and the number of homes for sale continues to expand Buyer demand is one per cent higher than a year ago, while the number of homes for sale is 12 per…
Read More →
Love or Hate Rightmove
Breaking News

Rents rise to new record despite boost in supply

The average advertised rent of homes outside of London has risen to a new record this quarter of £1,349 per calendar month (pcm), however it is the smallest increase in rents at this time of year since 2020: London rents also rise by 0.1% (+£3) to a 14th consecutive new record of £2,698 pcm this quarter…
Read More →
Breaking News

Size Matters in Planning

The House Builders Association (HBA), the housebuilding division of the National Federation of Builders (NFB) has reignited its campaign for the planning system to adopt five clear site size definitions, replacing the current, arbitrary ones of ‘Minor’ (one to ten homes) and ‘Major’ (ten and above). Richard Beresford, Chief Executive of the NFB, said: “In…
Read More →
Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More →