Foxtons Group plc (FOXT) Q4 2023 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.385 -- 00:00:04.892 Good morning everyone and thank you for joining the Foxton's 2023 00:00:04.892 -- 00:00:07.115 full year results presentation. 00:00:07.115 -- 00:00:11.762 I'm joined by Chris Hough, Group CFO, and we will both be available at the end of the 00:00:11.762 -- 00:00:14.767 call to answer any questions you may have. 00:00:14.767 -- 00:00:19.193 This presentation is a fraction longer than usual, but it is incredibly important to 00:00:19.193 -- 00:00:23.460 highlight just how much we've achieved in a short space of time. 00:00:23.460 -- 00:00:29.512 In my eyes, we've delivered over three years of progress in just 12 months. 00:00:29.512 -- 00:00:34.419 starting on slide five, where I will run through the key highlights for the year. 00:00:34.419 -- 00:00:39.786 First, we delivered revenue and profit growth in the year as growth 00:00:39.786 -- 00:00:44.833 in lettings mitigated a significantly weaker sales market and investments 00:00:44.833 -- 00:00:47.797 to rebuild our competitive advantages. 00:00:47.797 -- 00:00:52.623 Operationally, we delivered at pace and ahead of schedule. 00:00:52.623 -- 00:00:57.930 The Foxton's operating platform has been strengthened and we drove outperformance 00:00:57.930 -- 00:01:02.641 in the year which positions us for long term growth. 00:01:03.444 -- 00:01:08.491 In 2023, the platform drove a level of market share growth unheard of for a 00:01:08.491 -- 00:01:10.714 business of our size. 00:01:10.714 -- 00:01:16.122 Growth was delivered across all areas of our business and pleasingly for a London 00:01:16.122 -- 00:01:21.889 only estate agent, Foxton's was both the UK's fastest growing large estate agency 00:01:21.889 -- 00:01:26.961 and also the UK's largest lettings brand. The platform 00:01:26.961...