Foxtons year end update follows recent commentary from peers in highlighting the impact of market volatility on house buyer confidence. Whilst the conclusion to FY22 is strong and ahead of expectations (revenue +11% to c.£140m vs. our forecast of £135m), investors are likely to focus on a more subdued current year outlook. Management expects a challenging H123, expecting a significant reduction in sales volumes and, to a lesser extent, sales prices. There are however some tentatively positive si ....
26 Jan 2023
Subdued sales backdrop weighs on FY23 outlook
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Subdued sales backdrop weighs on FY23 outlook
Foxtons Group Plc (FOXT:LON) | 55.4 -0.3 (-1.1%) | Mkt Cap: 166.9m
- Published:
26 Jan 2023 -
Author:
Greg Poulton -
Pages:
3
Foxtons year end update follows recent commentary from peers in highlighting the impact of market volatility on house buyer confidence. Whilst the conclusion to FY22 is strong and ahead of expectations (revenue +11% to c.£140m vs. our forecast of £135m), investors are likely to focus on a more subdued current year outlook. Management expects a challenging H123, expecting a significant reduction in sales volumes and, to a lesser extent, sales prices. There are however some tentatively positive si ....