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Foxtons Share Price And The Housing Market - Merged


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Not considering buying, correction just getting started but good buys usually follow material correction. Wouldn't touch with barge pole at present. That said, balance sheet has little debt and they are profitable and generating cash. Would be interesting to look back at all past accounts, come up with a conservative profit after tax and play around with valuations. But good point - anyone can setup and foxton geared to rising market cause they are so aggressive.

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At a market cap of 550 million and 51 offices, that is still more than 10 million per office. While they are printing money thanks to the idiot snobs who prefer to sell via Foxtons even though they have to pay a higher commission, it is still an astounding figure.

At 2.5% minimum commission how many billions has each office have to sell + there are the business costs staff, tiny cars, rent etc?

It needs to turnover about 0.5 Billion (500,000,000) per office!!

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