Business
Half-year Report
Half-year Report.
About this update from Foxtons Group Plc
[{"type":"text","content":"\n \n \n \n Foxtons Group plc\n \n \n \n \n INTERIM RESULTS FOR THE HALF YEAR ENDED 30 JUNE 2022\n \n \n \n \n 28 JULY 2022\n \n \n \n \n \n \n Foxtons Group plc (the \"Company\" or \"Foxtons\"), London's leading estate agent, today announces its financial results for the half year ended 30 June 2022.\n \n \n \n Commenting on the results, Nigel Rich, Chairman of Foxtons, said:\n \n \n \"In the first six months of the year we have made significant progress against our plans to reset the business and get back on the front foot. To this end I am very much looking forward to welcoming Guy Gittins,\n \n the former CEO of Chestertons,\n \n as CEO in September this year.\n \n \n \n \n \n In the period, we successfully completed the integration of D&G lettings, as well as making a further two acquisitions in our lettings business to enhance earnings and market share. We enter the second half with a tightening grip on costs, a focus on sales intensity, and an improved ability to generate revenue from prudent investment in negotiators and financial services advisers.\n \n \n \n \n \n There remains much to do, but the heart of Foxtons is strong, and we are well placed to accelerate profit growth and realise the potential of the business.\"\n \n \n \n \n \n \n Financial summary\n \n \n \n \n \n \n \n Half year ended 30 June\n \n \n \n \n \n 2022\n \n \n \n \n \n 2021\n \n \n \n \n Change\n \n \n \n \n \n \n \n Continuing operations1:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n £65.1m\n \n \n \n \n \n £63.4m\n \n \n \n \n +3%\n \n \n \n \n \n \n Adjusted operating profit2\n \n \n \n \n \n £6.2m\n \n \n \n \n \n £5.4m\n \n \n \n \n +13%\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n \n £4.3m\n \n \n \n \n \n £3.6m\n \n \n \n \n +21%\n \n \n \n \n \n \n Adjusted earnings per share (basic and diluted)3\n \n \n \n \n \n 1.1p\n \n \n \n \n \n 1.1p\n \n \n \n \n -\n \n \n \n \n \n \n Earnings/(loss) per share (basic and diluted)\n \n \n \n \n \n 0.9p\n \n \n \n \n \n (1.1p)\n \n \n \n \n 2.0p\n \n \n \n \n \n \n \n Total Group4:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net free cash inflow5\n \n \n \n \n \n £2.8m\n \n \n \n \n \n £3.0m\n \n \n \n \n (5%)\n \n \n \n \n \n \n Interim...