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Equity Bottom-Up

<p>Foxton Group’s Q3 Lettings revenue supported an increase of c 3% but declining confidence in the London sales market due to uncertainty related to the Autumn Budget had an impact on Sales volumes and revenue, which is also likely to affect Q4. This has led Foxtons to guide FY25 underlying operating profit of £21.5–23.2m from a consensus of £23.7m and our estimate of £23.5m.</p>

Foxton Group’s Q3 Lettings revenue supported an increase of c 3% but declining confidence in the London sales market due to uncertainty related to the Autumn Budget had an impact on Sales volumes and revenue, which is also likely to affect Q4. This has led Foxtons to guide FY25 underlying operating profit of £21.5–23.2m from a consensus of £23.7m and our estimate of £23.5m.

Foxtons Group — Q3 Lettings resilience offset by weaker Sales