Ahead of the Autumn Budget scheduled for 26 November, Foxtons reported 3% rise in Q3 revenue to £49.0m and 7% rise in year-to-date revenue to £135.1m. Non-cyclical and recurring revenues (c71% of total Group revenue) mitigated a weaker sales market, “impacted by reduced consumer confidence and uncertainty surrounding the delayed Autumn Budget”. Management guide to 2025 adjusted operating profit of £21.5m to £23.2m. Zeus cuts its forecast 8.5% to £21.5m, and leave our 2026E and 2027E P&L forecast ....
