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Foxtons Group PLC - London-based estate agency - Records revenue of £30.4 million for the first quarter ended March 31, up 8% versus £27.7 million in the same quarter a year before. Attributes this to growth in lettings. Says Lettings revenue is up 21% to £17.9 million from £14.8 million.
Adds all areas of its business are trading in line with expectations. Notes that Sales revenue was down 9% to £9.6 million from £10.6 million as it laps strong comparable period which saw volumes boosted by stamp duty holiday.
‘I am pleased to report we have had a good start to the year, with all areas of the business trading in line with our expectations,’ Chief Executive Nic Budden says.
‘We continue to take cost action and have made good progress with our pipeline of potential lettings portfolio acquisitions.’
Current stock price: 45.40 pence, down 1.4% on Thursday
12-month change: down 28%
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