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Foxtons PLC on Thursday reported revenue growth in the third quarter, but warned sales are likely to remain subdued in the last quarter due to ongoing uncertainty. The company’s shares fell 4.3% to 54.00 pence on Thursday afternoon in London. The London-based real estate and lettings agency posted £49.0 in revenue for the three months that ended September 30. This is 3% higher than the £47.4 million it had reported a year earlier. In the year to date, as at September 30, revenue has advanced 7% to £135.1 million from £125.9 million on-year. For the remainder of 2025, Foxtons expects its lettings unit to trade in line with the positive YTD trend. However, sales are expected to be ‘subdued’, as the UK awaits the government’s delayed Autumn budget. The London-based firm warned that fourth-quarter sales revenue may fall below management expectations. The company expects full-year adjusted operating profit ranging from £21.5 million and £23.2 million, compared to £21.6 million the previous year. Foxtons cited market consensus as £23.7 million, but attributed the company’s more cautious outlook to ‘uncertainty over the conversion rate of the sales under-offer pipeline.’ Still, Foxtons noted signs of recovery in the medium term, anticipating improvement once the autumn budget is released, partly due to the possibility of interest rate cuts, and partly thanks to ‘pent-up demand in the London volume market.’ Chief Executive Guy Gittins commented: ‘We have delivered another quarter of growth driven by our strategic focus on lettings and its recurring revenues, which helped offset a softer sales environment. Lettings remains the central part of our growth strategy, underpinned by our leading market position and strong landlord proposition. ‘Recent acquisitions in Reading and Watford are performing well, and we continue to build a pipeline of lettings focused acquisitions.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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