Foxtons’ Q1 update highlights a strong start to FY23, with Q1 revenues increasing by 10% to £32.9m. This was driven by strong Lettings growth, more than offsetting anticipated weakness in Sales and Financial Services. A key highlight for us is that operational initiatives are starting to deliver results, with the business outperforming on a number of KPIs. This and a focus on non-cyclical rental revenues should support profitability whilst we await a full recovery in the Sales market. The Lettin ....
20 Apr 2023
Q1 update confirms strong start to FY23
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Q1 update confirms strong start to FY23
Foxtons Group Plc (FOXT:LON) | 54.6 -0.5 (-1.8%) | Mkt Cap: 164.5m
- Published:
20 Apr 2023 -
Author:
Greg Poulton -
Pages:
3
Foxtons’ Q1 update highlights a strong start to FY23, with Q1 revenues increasing by 10% to £32.9m. This was driven by strong Lettings growth, more than offsetting anticipated weakness in Sales and Financial Services. A key highlight for us is that operational initiatives are starting to deliver results, with the business outperforming on a number of KPIs. This and a focus on non-cyclical rental revenues should support profitability whilst we await a full recovery in the Sales market. The Lettin ....