Foxtons Group (FOXT) Q4 2025 TU earnings summary

Executive summary

• Achieved acquisition-led revenue growth in 2025, expanding into Milton Keynes with the Cauldwell acquisition.

• Lettings contributed 64% of revenue, providing earnings stability amid sales market volatility.

• Appointed a new Managing Director of Sales to drive future growth and profitability.

• Completed HQ relocation, expected to deliver £1.5m in annual cost savings from 2026.

Financial highlights

• Total revenue for 2025 was approximately £172m, up 5% year-over-year (2024: £163.9m).

• Adjusted operating profit was around £22m, nearly flat compared to £22.1m in 2024.

• Lettings and Sales revenues both increased by about 5%, with Financial Services revenue up 10%.

• Net debt at year-end was £17m, up from £12.7m in 2024, due to acquisitions and shareholder returns.

• Returned £5.5m to shareholders via buybacks and £3.6m in dividends.

Outlook and guidance

• Lettings expected to remain resilient in 2026, supported by tenant demand and strong stock levels.

• Sales started 2026 with a lower under-offer pipeline, but transaction volumes may benefit from mortgage rate reductions.

• Revenue and profit growth anticipated in 2026, underpinned by recurring Lettings revenue.

• Medium-term target includes delivering £50m of adjusted operating profit.