Foxtons’ chair steps down in wake of ‘impaired’ trading performance July 7, 2021 Chairman Ian Barlow has announced his intention to step down from Foxtons’ board later this year, after the estate agent’s share price plummeted during the Covid pandemic. Barlow will step down no later than 31 December 2021 after nearly nine years on the board. Foxtons has had a tough year fending off criticism from [...]
Foxtons expect profits to shoot ahead of past two years June 3, 2021 Foxtons confirmed to markets this morning that they expect profits to be “significantly ahead of both 2020 and 2019” after a bumper start to the year. The firm has seen a 49 per cent increase in Q1 sales revenues versus both 2020 and 2019, and the sales commission pipeline is now 65 per cent ahead [...]
Foxtons’ best results in five years prompt real estate giant to reinstate dividend July 29, 2021 Estate agent Foxtons has delivered its best results in five years, boosted by a pandemic-induced resurgence in London’s property market after years of weak results. The sales and lettings agency announced it made £66.9m in revenue in the first half of 2021, a 66 per cent increase compared to the same period in 2020 and [...]
Foxtons to review chief’s pay following shareholder revolt April 22, 2021 Foxtons will review its remuneration policy after nearly 40 per cent of shareholders voted against executive pay packages. Foxtons faced criticism from investors and shareholders groups over its decision to award CEO Nic Budden almost £1m in bonuses for the year. Shareholders’ concern centred on the group paying out bonuses to executives despite a sharp [...]
Foxtons faces yet another investor revolt over executive pay and share price June 7, 2021 Hosking Partners, which owns 11.2 per cent of Foxtons, has called for “board-level change” at the estate agent over concerns about its share price and its bosses pay. Jeremy Hosking, the boss of Foxtons’ biggest investor, wrote to chairman Ian Barlow to outline his dissatisfaction, the Times first reported. Hosking expressed frustration about the [...]
Foxtons confirms talks to buy rival Douglas & Gordon February 22, 2021 London-listed estate agent Foxtons has confirmed it is in talks to buy West London-based agent Douglas & Gordon. In a statement, Foxtons said the discussions “reflect the company’s stated ambition to acquire high quality businesses with strong lettings books.” Douglas and Gordon, which is run by former Foxtons executive James Evans, has 17 branches in [...]
Foxtons sees revenues rocket amid stamp duty-driven housing boom April 14, 2021 Foxtons has seen impressive revenue growth in the three months to 31 March, at a time when house prices are at an all-time high amid the stamp duty holiday. Group revenue at the estate agent in the first quarter of 2021 stood at £28.5m, up 24 per cent on the same period last year. [...]
Foxtons buys West London rival Douglas & Gordon for £14.25m March 2, 2021 London-listed estate agent Foxtons has confirmed it has acquired West London-based firm Douglas & Gordon for £14.25m. It comes just a week after the FTSE firm confirmed it was in discussions to “reflect the company’s stated ambition to acquire high quality businesses with strong lettings books.” Douglas and Gordon, which is run by former Foxtons [...]
Foxtons revenue rebounds in 2021 after lockdown hit London sales and lettings last year March 10, 2021 London estate agent Foxtons this morning said revenue had boomed at the beginning of this year as the market continued to be buoyed by pent-up demand and the stamp duty holiday. Foxtons said revenue for the first two months of 2021 is “well ahead” of both last year and 2019, with the sales commission pipeline [...]
Foxtons revenue dips despite pent-up lockdown demand October 29, 2020 London estate agent chain Foxtons said business picked up “significantly” in the third quarter, but admitted that rents had fallen due to weakening demand. Group revenue for the three months to 30 September was £28.5m, down 10 per cent compared to last year. Foxtons’ share price fell more than four per cent this morning as [...]