Foxtons Group plc (FOXT) Q4 2021 Earnings Call

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Replay transcript excerpt

[Speaker identities could not be resolved; generic labels used] [00:00] Speaker 1: Thank you operator. Good morning everyone and welcome to our full year 2021 [00:04] Speaker 1: results called. [00:06] Speaker 1: Today I'm joined by Richard Harris, our CFO and Patrick Franco, our COO, [00:10] Speaker 1: and we'll all be on hand following the presentation to take any questions you might have. [00:15] Speaker 1: I'll begin the session this morning by giving an overview of our performance for the period and an update on strategic progress. [00:23] Speaker 1: Richard will then take you through the financials before I finish with some perspectives on Outlook. [00:28] Speaker 1: So starting on Slide 5, let me cover group highlights. [00:33] Speaker 1: Overall, 2021 was a good year for Foxton's [00:36] Speaker 1: with revenues, profits and cash flows significantly ahead of 2019 [00:41] Speaker 1: and 2020 [00:43] Speaker 1: and good progress made on our core objectives. [00:46] Speaker 1: We've made a positive start to 2022 [00:49] Speaker 1: with clear strategic priorities embedded throughout the organisation [00:54] Speaker 1: and subject to the geopolitical situation [00:56] Speaker 1: we expect to be able to build on the strong progress made last year. [01:01] Speaker 1: We've also clarified our approach to capital allocation, [01:04] Speaker 1: and in particular, we've built a solid pipeline of lettings acquisition, [01:09] Speaker 1: which like those already completed, we believe can deliver attractive returns to shareholders. [01:15] Speaker 1: On a continuing basis, [01:17] Speaker 1: revenue was £126.5 [01:19] Speaker 1: million, [01:20] Speaker 1: up 35% [01:22] Speaker 1: against 2020 [01:23] Speaker 1: and up 18% [01:24] Speaker 1: against 2019, [01:26] Speaker ...