Updates

Foxtons - Looking cheap on 2015 prospective PEâ€ˆof 11.6

October 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.

Judging by the recent sell off in the shares, readers might believe Foxtonsâ€™ world has collapsed but the nervousness is purely reflective of concerns that a lack of houses for sale in London and the Governmentâ€™s mortgage market review may curtail transaction volumes. Ironically, results themselves were slightly ahead of expectations with revenues, pretax profit and eps rising 16%, 57% and 49% to Â£72.8m, Â£23.1m and 6.4p respectively. The benefits of operational gearing meant EBITDA margins jumped 3.3% to 34.3%. The main driver was residential sales where higher transactional volumes and prices led to a 32% increase in revenue to Â£37.8m, while EBITDA rose 69% to Â£15m, with both its mature offices and recently opened ones con ...

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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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