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Foxtons

December 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FOXT
  • Price:
  • 165.5p
Estate agency Foxtons revealed disappointing Q3 results with turnover of £39.9m (2013: £41.1m) and EBITDA down 21% to £14.2m, leaving EBITDA for the nine months up 5% to £39.2m. As a result it now expects EBITDA for the full year to be below last year’s with market volumes for H2 2014 expected to be significantly lower than 2013 levels.Foxtons blamed a toxic combination of political uncertainty (due to the mansion tax threat on £2m+ homes should Labour win the next election in May), economic concerns in Europe, tighter mortgage lending criteria and mismatches between the price expectations of buyers and sellers. Nevertheless, it is pressing on with its expansion, with seven new sites opened this ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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