Foxtons Group plc (FOXT) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.453 -- 00:00:04.780 Good morning everyone and thank you for joining the Foxton's 2025 00:00:04.780 -- 00:00:09.587 half-year results presentation. I'm joined by Chris Hough, Group CFO, and we will answer 00:00:09.587 -- 00:00:14.615 any questions at the end of the call. We have a streamlined presentation today 00:00:14.615 -- 00:00:19.443 following the in-depth look at the business at our capital markets presentation last 00:00:19.443 -- 00:00:24.231 month. This morning, I'll take you through some of the key financial and operational 00:00:24.231 -- 00:00:29.140 highlights to provide an update on London's lettings and sales markets. 00:00:29.140 -- 00:00:33.684 Chris will then talk you through the numbers and I will finish with an update on operational 00:00:33.684 -- 00:00:38.869 progress in the half, followed by some detail on July trading and outlook 00:00:38.869 -- 00:00:41.510 for the rest of the year. 00:00:43.714 -- 00:00:48.839 The business I took over when I rejoined Foxton's in September 22 was very different 00:00:48.839 -- 00:00:53.984 to the one we are today. Following a forensic operational review, we undertook 00:00:53.984 -- 00:00:58.317 a massive rebuilding exercise over 23 and 24. 00:00:58.317 -- 00:01:03.141 to completely turn around the business. And that work is really paying off. 00:01:03.141 -- 00:01:07.605 We are now firmly in the next stage of growth and I could not be more excited about the 00:01:07.605 -- 00:01:09.887 momentum we're building. 00:01:09.887 -- 00:01:14.271 And that progress can be seen in our results for the first half. 00:01:14.271 -- 00:01:19.536 We delivered 10% revenue growth and 31% profit growth. 00:01:19.536 -- 00:01:24.600 Revenue growth was delivered through another half of lettings growth plus a 25% ...