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Foxtons Share Price And The Housing Market - Merged


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4 hours ago, Doctor SickoPants said:

Nic Budden, CEO, sold 1m shares yesterday. Who knows the London market better than him?

The 1m was 50% of his holding http://www.stockmarketwire.com/article/5921200/Director-Deals-Foxtons-Group-PLC-FOXT.html

He also got a £218,000 bonus, not too shabby when " The real estate agency saw full-year pre-tax profits slump 65% to £6.5m"

https://www.wcgplc.co.uk/MarketNews/Article/?articleId=27292535

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  • 1 month later...

Foxt trading update out today, not a good start to the year, revenue down across the board:

In the first quarter of 2018 group revenue was GBP24.5m compared to GBP28.7m in the first quarter of last year. This comprised sales revenue of GBP8.2m (2017: GBP11.1m), lettings revenues of GBP14.3m (2017: GBP15.5m), and Alexander Hall mortgage revenue of GBP2.0m (2017: GBP2.1m).

Whilst the sales pipeline has begun to improve it remains below where it was this time last year. The performance of our lettings business improved towards the end of the quarter and throughout April.

 

 

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14 minutes ago, rantnrave said:

Nah. 64.5 is the all-time low IIRC. There was a plummet down to 50p just after the Brexit vote, which literally lasted about a microsecond.

Scrapping the bottom then.

I  dont see their accounts improving any time soon!!!

 

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13 hours ago, Patient London FTB said:

Wow. Channel 4 are going to drop the pretence and actually become estate agents:

Quote

The new entity has secured a total of £15m in new funding, with “airtime for equity” investment from Channel 4 heralding a major TV advertising campaign.

 

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9 hours ago, warrior88 said:

Bring it down, bring it down, I would be happier at 40p per share.

Folding would be preferable.  Rented through them in Putney 2014-15.  I was not new to renting, but new to the London market and they gave no advice to me, despite knowing my situation and their lengthy experience.  Lazy, complacent, scheming and profiteering.  Let them burn.  My landlord was a bit of a miser, we never really got on, but the one thing we both agreed on was how ****ing useless Foxtons were / are.

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If we are now living in an environment where most sellers refuse to lower their asking prices and most buyers cannot afford those asking prices( ie stalemate), the best thing to come out of it is a lack of transactions that will decimate high street estate agents. They helped make their bed, and they can now lie in it.

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