Foxtons targets growth in 2026 despite 'challenging' London market

Foxtons Group PLC on Thursday said it continues to target year?on?year revenue and profit growth in 2026 despite a ‘challenging’ London property market.

The London-based estate agency said pretax profit fell 3.4% to £16.9 million in 2025 from £17.5 million the year prior, although sales rose 5.2% to £172.5 million from £163.9 million.

Earnings per share declined 6.5% to 4.3 pence from 4.6p.

Foxtons said Lettings revenue was up 5% in 2025 on-year, as recurring revenue was boosted by revenues from acquisitions and growth in high margin property management services.

Sales revenue rose 6%, driven by revenues from acquisitions in commuter markets.

Financial Services revenue rose 10%, driven by operational upgrades and a stronger refinance pipeline.

Looking ahead, Lettings is expected to remain resilient, providing non?cyclical and recurring income, Foxtons said.

But it cautioned the London sales market ‘remains challenging, with buyer demand in early 2026 continuing to be held back by weak consumer confidence.’

To manage this, Foxtons said it focused on repositioning the sales business for lower volume market conditions to ‘accelerate the path to profitability’.

Management continues to target year?on?year revenue and profit growth through organic initiatives, earnings?accretive acquisitions and cost efficiency, underpinned by non?cyclical and recurring Lettings revenues.

‘We have strong foundations, a clear growth strategy and a highly scalable platform, and we are targeting growth in 2026 and beyond,’ said Chief Executive Guy Gittens.

The firm declared a final dividend of 0.93p per share, down from 0.95p a year ago. This takes the total payout to 1.17p, unchanged from 2024.

Shares in Foxtons rose 4.1% to 48.04p in London on Thursday.

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