Foxtons’ new CEO has identified historical failings that are expected to be addressed by upgrades to data infrastructure, investment in staff and a reinvigoration of the Foxtons brand. If successful, over the medium term Foxtons expects margins to expand 500bp and hopes that operating profit will more than double. Importantly, it aims to increase the proportion of recurring income from c 65% currently, thereby reducing cyclical income and increasing the quality of income. We have raised our FY23 ....
15 Mar 2023
Foxtons Group - New CEO targets recurring income streams
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Foxtons Group - New CEO targets recurring income streams
Foxtons Group Plc (FOXT:LON) | 52.0 -0.5 (-1.9%) | Mkt Cap: 156.7m
- Published:
15 Mar 2023 -
Author:
Andy Murphy -
Pages:
9
Foxtons’ new CEO has identified historical failings that are expected to be addressed by upgrades to data infrastructure, investment in staff and a reinvigoration of the Foxtons brand. If successful, over the medium term Foxtons expects margins to expand 500bp and hopes that operating profit will more than double. Importantly, it aims to increase the proportion of recurring income from c 65% currently, thereby reducing cyclical income and increasing the quality of income. We have raised our FY23 ....