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Foxtons Share Price And The Housing Market - Merged


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On 13/11/2018 at 12:09, Freki said:

FYI :

https://www.theguardian.com/business/2018/nov/13/foxtons-closes-london-branches-estate-agent-sales-brexit

Once again the value of the share as a strange rounded perfect 50

image.png.dfff733bd755d6c3884c4352359f2ca3.png

Good Post. 

But do all Guardian articles have Brexit in the title? 

Went back to check again and it is 4 paragraphs in... I know it is mandatory in all articles in the VI papers... But putting it on the article link (uri) is... Not sure what relevance that has to Web searches... Ah well. 

Edited by Aidan Ap Word
More detail on why I think url is weird.
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  • 2 months later...
Quote

London-based estate agent Foxtons says it expects an 80% drop in adjusted core earnings for 2018 after a fall in sales volumes and a rise in operating expenses.

Income for 2018 is expected to be £3m, down from £15m in 2017.

Demand for London property has been sluggish in many areas after a rise in stamp duty and the UK's vote to leave the EU.

Nic Budden, chief executive of Foxtons, said: "2018 was one of the toughest sales markets we have ever had in London with transactions falling from last year's historically low levels.

"Looking ahead, we expect trading conditions in the sales market to remain challenging throughout 2019."

Foxtons' share price is down 2.9% at 51.9p.

80% drop!!

 

better swap those minis for Reliant Robins

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  • 4 weeks later...

Hot off the press...

http://www.morningstar.co.uk/uk/news/AN_1551348846908867800/foxtons-group-swings-to-annual-loss-on-weak-london-property-market.aspx

LONDON (Alliance News) - Foxtons Group PLC on Thursday said it swung to an annual loss due to the continued deterioration in the UK property sales market.

For 2018, the estate agent posted a pretax loss of GBP17.2 million compared to a GBP6.5 million profit a year ago. This decline was mainly driven by lower revenue and investment in people, brand and technology, Foxtons explained.

Revenue fell 5% year-on-year to GBP111.5 million, from GBP117.6 million, as a "resilient lettings performance" was offset by weakness in the London sales market, the company explained.

Lettings revenue rose 1% year-on-year to GBP67.0 million while sales revenue dropped 15% to GBP36.2 million.

"Our performance in 2018 was impacted by a further deterioration in the sales market, with transaction levels falling for another year from their already low levels. We are pleased with the lettings business and the investment we made earlier in the year helped to drive a good second half performance," Chief Executive Nic Budden said.

Looking ahead, the company said its sales outlook remains unchanged while it expects momentum in the lettings business to progress.

Foxtons did not propose a dividend for the year. Last year it had proposed to shareholders a payout of 0.70 pence per share held.

Foxtons shares were trading down 1.1% at 60.53 pence each on Thursday morning.

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3 hours ago, skomer said:

Hot off the press...

http://www.morningstar.co.uk/uk/news/AN_1551348846908867800/foxtons-group-swings-to-annual-loss-on-weak-london-property-market.aspx

LONDON (Alliance News) - Foxtons Group PLC on Thursday said it swung to an annual loss due to the continued deterioration in the UK property sales market.

For 2018, the estate agent posted a pretax loss of GBP17.2 million compared to a GBP6.5 million profit a year ago. This decline was mainly driven by lower revenue and investment in people, brand and technology, Foxtons explained.

Revenue fell 5% year-on-year to GBP111.5 million, from GBP117.6 million, as a "resilient lettings performance" was offset by weakness in the London sales market, the company explained.

Lettings revenue rose 1% year-on-year to GBP67.0 million while sales revenue dropped 15% to GBP36.2 million.

"Our performance in 2018 was impacted by a further deterioration in the sales market, with transaction levels falling for another year from their already low levels. We are pleased with the lettings business and the investment we made earlier in the year helped to drive a good second half performance," Chief Executive Nic Budden said.

Looking ahead, the company said its sales outlook remains unchanged while it expects momentum in the lettings business to progress.

Foxtons did not propose a dividend for the year. Last year it had proposed to shareholders a payout of 0.70 pence per share held.

Foxtons shares were trading down 1.1% at 60.53 pence each on Thursday morning.

To make a loss of this magnitude relative to gross income as a mature business in a mature market indicates either a broken model or a broken firm.

Hopefully both?

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I was suing their South Ken office last year but the case was struck off incorrectly. I recently resubmitted the paperwork and they didnt acknowledge the claim, so I was awarded judgement and bailiffs were instructed 3 days ago so I wonder if I will be getting one of their minis delivered to me soon! ?

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3 hours ago, BobbyZZZ said:

I was suing their South Ken office last year but the case was struck off incorrectly. I recently resubmitted the paperwork and they didnt acknowledge the claim, so I was awarded judgement and bailiffs were instructed 3 days ago so I wonder if I will be getting one of their minis delivered to me soon! ?

Ooh... what did you sue them over?

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I dis instructed them due to their complete ineptitude and demanded a refund of the management fee they took in advance.  It gets better though (and worthy of an article in the Daily Mail!) because the tenant was from overseas and never moved into the flat and they had the only 3 sets of keys and at 'check out' 18m later it was apparent their staff had personally been using the flat knowing the tenant was never going to show!  Given that legally the "tenant" has the case against them for this I cant really do anything about it but I cited this in my case against them!  When last year they got the papers I was pursuing them through the courts they were all over it, but this time....nothing!  Maybe their legal department has been made redundant!?  Lets see what the bailiffs say!

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1 hour ago, BobbyZZZ said:

I dis instructed them due to their complete ineptitude and demanded a refund of the management fee they took in advance.  It gets better though (and worthy of an article in the Daily Mail!) because the tenant was from overseas and never moved into the flat and they had the only 3 sets of keys and at 'check out' 18m later it was apparent their staff had personally been using the flat knowing the tenant was never going to show!  Given that legally the "tenant" has the case against them for this I cant really do anything about it but I cited this in my case against them!  When last year they got the papers I was pursuing them through the courts they were all over it, but this time....nothing!  Maybe their legal department has been made redundant!?  Lets see what the bailiffs say!

Shoulda just banged the rents up on em pal. Schoolboy error.

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