Foxtons Group PLC Capital Markets Day and Trading Update (6432A)
June 03 2021 - 1:00AM
UK Regulatory
TIDMFOXT
RNS Number : 6432A
Foxtons Group PLC
03 June 2021
FOXTONS GROUP PLC (the "Group" or "Foxtons")
Capital Markets Day and Trading Update
3 June 2021
Capital Markets Day
Foxtons Group plc (LSE: FOXT), London's leading estate agency,
will today hold a virtual Capital Markets Day for institutional
investors and analysts.
The event will be led by Nic Budden, Chief Executive Officer,
and members of the senior management team who will provide a
comprehensive update on the Group's growth strategy with a focus on
how technology and data science is supporting its objectives to
reinforce market leadership, diversify revenue streams and grow
profits. A Q&A session will follow the presentation, hosted by
Foxtons Chairman, Ian Barlow. The event will start at 14:00 BST and
is expected to conclude at 16:00 BST.
Joining instructions for the live event, which will include an
opportunity to ask questions, are included in the following link:
www.foxtonsgroup.co.uk/investors/capital-markets/ . A copy of the
Capital Markets Day presentation will also be made available at the
same link at the start of the event.
Trading Update
Since the Group's Trading Update on 14 April 2021, trading
momentum within the business has continued to be strong. Following
a 49% increase in Foxtons Q1 sales revenue versus both 2020 and
2019, the sales commission pipeline has continued to grow and is
now 65% ahead of last year and 17% up on 1 January 2021(1) . As a
result of the strong trading momentum, adjusted operating profit
for the first half of the year is expected to be significantly
ahead of both 2020 and 2019.
No further trading information will be disclosed during the
event.
Nic Budden, Group Chief Executive Officer said:
"Foxtons has enormous potential and we are delighted to be able
to set out our growth plans. For over 40 years we have operated
through the ups and downs of the sales market cycle and emerge from
the unprecedented challenges of 2020 a more efficient and capable
business. Our customer proposition is unique and the investments we
have made in technology and data science capabilities give us
competitive advantage and a solid platform for growth.
2021 has started extremely well with strong trading and the
biggest acquisition in our history.
We look out on significant opportunity to grow and have a clear
plan to take advantage of it. Foxtons has a history of being a
highly profitable business and when I reflect on the actions we
have taken together with the opportunity and improving market
conditions I am confident we can deliver significant shareholder
value in the coming years."
(1) To ensure comparability over time, the trading information
provided excludes the contribution from Douglas & Gordon Estate
Agents Limited which was acquired on 1 March 2021.
For further information, please contact:
Foxtons Group plc
Richard Harris, Chief Financial +44 20 7893 6261 investor@foxtonsgroup.co.uk
Officer
Muhammad Patel, Investor Relations
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Sanctuary Counsel
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+44 7557 413 275 / +44 7918
Robert Morgan / Rachel Miller 606 667
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