Foxtons Group PLC (STU:FXG)

Half Year 2026 Foxtons Group PLC Earnings Call Transcript

Jul 30, 2026 / 08:00 AM GMT

Release Date Price: €0.452 (+2.73%)

Transcript

Key Points

Positve

Foxtons Group PLC (STU:FXG) demonstrated business model resilience with group revenue declining only 3% despite a highly challenging market backdrop.
The company successfully increased the proportion of non-cyclical and recurring revenue to 69% of total group revenue, up from 65% in the prior year.
Lettings portfolio grew to 32,000 tenancies, with underlying organic growth driven by strong cross-sell of high-margin ancillary products and property management services.
Financial services revenue grew 20% year-over-year, driven by higher refinance volumes and improved adviser productivity.
The company executed its acquisition strategy, completing platform acquisitions in Milton Keynes and Birmingham, and has a strong pipeline of further bolt-on opportunities.

Negative

Sales market was highly challenging with London exchange volumes down 13% year-over-year, leading to a 13% decline in sales revenue.
The introduction of the Renters Rights Act caused short-term volatility in lettings, resulting in $3 million of revenue reversals from elevated tenant-led terminations.
Adjusted operating profit declined 29% to $8.9 million, impacted by lower sales revenue and the high profit drop-through of lettings revenue reversals.
Sales business reported an adjusted operating loss of $4.7 million, with no meaningful recovery in transaction volumes expected in the near term.
Net free cash flow was low at $1.4 million, and the company faces a working capital outflow of an estimated $10 million over 2026-2027 due to transitioning to annual landlord billing.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FOXT.L - Foxtons Group PLC
Half Year 2026 Foxtons Group PLC Earnings Call
Jul 30, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone.

Thank you for joining the Foxton's 2026 half year results presentation. I'm joined by Chris Hough, Group CFO, and we will answer any questions at the end of the call.

This morning, I will take you through some of the highlights for 2025 and provide an update on the London property market and further detail on the impact of the Renters Rights Act. Chris will then talk you through the financials and the performance of each of our businesses in more detail.

Finally. I will outline the operational progress that we've delivered in the half before finishing with the outlook for the rest of the year.

On slide 5, we've outlined the key takeaways from this results presentation.

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