Foxtons releases poor figures on Sales though solid on Lettings
News across media outlets shares that Foxtons Group PLC reported that 2018 was one of it’s toughest year so far with a significant fall in earnings and the trend likely to continue throughout 2019.
“expected earnings to drop 80 per cent at Foxtons… “
Figures include revenue within the sales division for 2018 being at £36 million which was down 16% year-on-year & total venue for 2018 of £111 million which is down 5.9% from £118 million reported in 2017 – Though with varied branch closures and other cost saving initiatives they expect not so hard a hit on figures for 2019.
Lettings continue to shine against the dark side at Foxtons with revenue for 2018 totalling £67 million that is a 1.5% increase from 2017.
Full report can be read on the Morning Star website.