Latest news with #Foxtons
Times
a day ago
- Business
- Times
Foxtons to expand beyond London into high-value commuter markets
Foxtons is preparing to take its green Minis, sharply dressed sales reps and punchy house price valuations to more towns beyond the M25. London's biggest estate and lettings agent has told shareholders and City analysts that it wants to accelerate its expansion beyond the capital and into more 'high-value commuter markets'. Over the past year Foxtons has sought a foothold in Reading and Watford after snapping up local agents in those two markets, but its chief executive, Guy Gittins, expects more deal-making over the coming months. It is part of his plan to hit the ambitious new growth targets that he revealed on Wednesday. Over the next few years he expects Foxtons to increase its operating profit to £50 million, which is more than twice that delivered in 2024. Sam Cullen, a housing industry analyst at Peel Hunt, said making more acquisitions would be the 'key driver' of the growth that Foxtons is hoping for. The previous 'medium-term' target, set out two years ago, was to get adjusted operating profits up to at least £28 million. Foxtons said the updated target 'reflects the significant progress made to date [and] the scale of the opportunity ahead'. • Business live blog: Trump tells Powell he should have cut rates Since Gittins took over in September 2022 there has been a relentless focus on maximising Foxtons' vast pool of data and bringing back the sales culture he enjoyed in the early Noughties as a trainee at the company. At the head office in Chiswick there are now leader boards ranking workers' performances, upbeat music plays throughout, and there are flashing lights and whooping when someone presses the big red button in the middle of the office after closing a deal. Gittins has said it is all about 'celebrating success'. The changes have undoubtedly improved the company's financial performance: market share has increased, last year's profits were more than double what they were in 2022 and the share price is up almost 80 per cent. It has not been smooth sailing, however. Earlier this year a number of current and former staff told Bloomberg that 'a culture of sexual harassment, antisemitism, racism and bullying' exists within some Foxtons' branches. Gittins said in March that he was 'saddened' by the experiences reported by some of his colleagues. 'We don't tolerate that sort of behaviour,' he said. 'Ultimately, like many businesses in the modern world, Foxtons is on a journey. While very solid progress has been made, there's more to do.' More investments in people and culture, which 'are at the heart of estate agency', have been promised with the hope that will 'further strengthen Foxtons' competitive advantages and support continued growth'. 'We have more than doubled our profit since 2021 and our ambition is to double it again in this next phase of growth,' Gittins told a capital markets day at the London Stock Exchange on Wednesday. 'We have a clear and scalable strategy, an industry-leading operating platform and a commitment to delivering outstanding results for our customers through reliable, high-quality service. I'm excited about the opportunity ahead.' Foxtons shares fell by ⅓p, or 0.5 per cent, to close at 65p on Wednesday.
Scottish Sun
5 days ago
- Entertainment
- Scottish Sun
Our lives will be ruined by billionaire's £30,000-a-night wedding venue in quiet village – it'll be a 24/7 party site
Villagers were hoping the local council would veto the latest plan 'DAVID AND GOLIATH' Our lives will be ruined by billionaire's £30,000-a-night wedding venue in quiet village – it'll be a 24/7 party site Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A 'LORD of the Manor' billionaire has infuriated villagers by launching a mega party centre which they claim threatens to destroy their peace and quiet. Many of the 150 locals say that hugely-wealthy Jon Hunt - who sold his estate agency Foxtons for millions - has turned his country estate in the heart of the Suffolk countryside into a giant retreat called Valley Farm where guests can drink and dance round the clock. Sign up for Scottish Sun newsletter Sign up 9 The Wilderness Reserve which has been granted approval for its Blyth Barn wedding venue on the Valley Farm estate Credit: JOHN McLELLAN 9 A sign in the village saying 'Wilderness Reserve Not Welcome Here' Credit: JOHN McLELLAN 9 Villager Liz Forrester is against the new venue Credit: JOHN McLELLAN In the latest confrontation with villagers in Huntingfield near Halesworth, critics claim he is creating an unsuitable 24-hour-a-day venue – with booze on tap at all hours – that will ruin their tranquil lives. The latest addition to the sprawling 8,000 acre estate - an 18-bedroom wedding venue called Blyth Barn - is a string of converted linked buildings that can accommodate more than 200 guests and is just two minutes walk from the peaceful village green. In a meeting earlier this month, Huntingfield Parish Council's planning committee voted in favour of a motion to approve the part-retrospective application submitted by The Wilderness Reserve. However, there were conditions that limited the number of events with more than 180 people per year, and there will be no marquees outside the building area, reports the Beccles & Bungay Journal. The plan related to the reconfiguration of three approved holiday lets into the single guest house. But locals are seriously worried that what they describe as a 'glorified holiday camp' they claim will ruin their rural peace and quiet. Local Helen Cannon told The Sun this week: "They know how to work the system – they apparently said it wasn't going to be a party place but that is exactly what every other property on the estate has been turned into. 'This new place will apparently have 18 rooms and be able to host hundreds of people – that will inevitably involve disruption and late-night disturbance for every local living here.' The new 'party central' development – which also boasts a swimming pool, hot tub, sauna, gym and party room will be available for a reported £30,000 a night and have parking for more than 100 cars. It previously won permission from the district council to sell alcohol 24 hours a day, sparking more fears among some locals of round-the-clock noise and disturbance. Your kids are breaking law if they kick their ball over neighbour's fence, High Court rules after couple sued next door It is being advertised as 'grand-scale entertainment' and despite local objections, has been granted a licence for music until 1am. Villagers Lori Kingsley Adams and her daughter Nina Roe, 39, are among local objectors – they claim it has grown well beyond the 'rural retreat' originally pitched. Ms Adams, 61, who has lived in Huntingfield since 2017, said: "We feel like we have been ignored and our views not considered – all in the name of money. "This is a very old village and a small farming community and we thought this development would be a good thing for the village. 'But we have already endured four years of construction disturbing the peace and calm of the village. "It has been distressing and Huntingfield has been ruined - Mr Hunt presents himself as a philanthropist but he's not. We feel our views have been ignored – all in the name of money.' Ms Adams previously told the MailOnline: "It's a David and Goliath battle." Another villager said: "No-one has thought about the effect on all our lives – the traffic, light-pollution noise and the effects on wildlife. "Some guests will arrive in helicopters – we have all been misled about the 'green' nature of this development." 9 Huntingfield Parish Council's planning committee voted in favour of a motion to approve the part-retrospective application Credit: JOHN McLELLAN 9 The wedding venue contains 18 rooms Credit: JOHN McLELLAN 9 It's feared the tiny village will be further blighted by the latest approval Credit: JOHN McLELLAN Parish council chairman David Blackmore raised concerns at a recent meeting about 'the huge amount of traffic, noise and light pollution' caused by the guests. He said: 'We are not anti-development just anti the wrong development – and a huge wedding venue and party space has no place in our small village.' And a report from a planning consultant said that the venue 'will inevitably cause a great deal of noise and disturbance to the local area with loud music and and a massive increase in traffic.' Adding a claim that 'the council failed to take any action or issue any enforcement notices for the current development not being in accordance to the approved plans.' But not everyone is against the new facility – furniture maker Chris Kerridge, who lives in the village, said: "I come from here and lots of my family live around here. "Mr Hunt is creating jobs, employing lots of local people and is saving the place in a traditional way. 'He is restoring disused old buildings and putting them to good use – he has deep pockets and can afford to do that.' The Wilderness estate is described in its brochures as 'an eco-holiday resort for grand-scale entertainment' and famous guests who have already stayed there include Jack Whitehall and Zoe Sugg. Mr Hunt makes this year's recent 'Rich List' with a fortune of £1.427 billion pounds which means he is the 114th richest person in the country. The planning committee also approved an application for an extension and modification One bid is for the extension and modification of the car park which had received 40 objections from the public. It was heard in the meeting that the proposal includes 53 parking spaces and the overflow car park was removed from the application in response to objections. The other proposal was a part-retrospective application for a building to house management services and overflow accommodation. The committee voted in favour to approve both the applications. A spokesman for Wilderness said: "We have been part of the community around Huntingfield for many years, supporting local businesses and jobs as well creating new natural habitats for wildlife. "We look forward to continuing to work with the local community to deliver more of these benefits in the future." 9 Chris Kerridge is very much in favour of the site Credit: JOHN McLELLAN 9 Sue Brewer, pictured with her dog Elsie, is against the new plans Credit: JOHN McLELLAN
The Sun
5 days ago
- Business
- The Sun
Our lives will be ruined by billionaire's £30,000-a-night wedding venue in quiet village – it'll be a 24/7 party site
A 'LORD of the Manor' billionaire has infuriated villagers by launching a mega party centre which they claim threatens to destroy their peace and quiet. Many of the 150 locals say that hugely-wealthy Jon Hunt - who sold his estate agency Foxtons for millions - has turned his country estate in the heart of the Suffolk countryside into a giant retreat called Valley Farm where guests can drink and dance round the clock. 9 9 9 In the latest confrontation with villagers in Huntingfield near Halesworth, critics claim he is creating an unsuitable 24-hour-a-day venue – with booze on tap at all hours – that will ruin their tranquil lives. The latest addition to the sprawling 8,000 acre estate - an 18-bedroom wedding venue called Blyth Barn - is a string of converted linked buildings that can accommodate more than 200 guests and is just two minutes walk from the peaceful village green. In a meeting earlier this month, Huntingfield Parish Council's planning committee voted in favour of a motion to approve the part-retrospective application submitted by The Wilderness Reserve. However, there were conditions that limited the number of events with more than 180 people per year, and there will be no marquees outside the building area, reports the Beccles & Bungay Journal. The plan related to the reconfiguration of three approved holiday lets into the single guest house. But locals are seriously worried that what they describe as a 'glorified holiday camp' they claim will ruin their rural peace and quiet. Local Helen Cannon told The Sun this week: "They know how to work the system – they apparently said it wasn't going to be a party place but that is exactly what every other property on the estate has been turned into. 'This new place will apparently have 18 rooms and be able to host hundreds of people – that will inevitably involve disruption and late-night disturbance for every local living here.' The new 'party central' development – which also boasts a swimming pool, hot tub, sauna, gym and party room will be available for a reported £30,000 a night and have parking for more than 100 cars. It previously won permission from the district council to sell alcohol 24 hours a day, sparking more fears among some locals of round-the-clock noise and disturbance. Your kids are breaking law if they kick their ball over neighbour's fence, High Court rules after couple sued next door It is being advertised as 'grand-scale entertainment' and despite local objections, has been granted a licence for music until 1am. Villagers Lori Kingsley Adams and her daughter Nina Roe, 39, are among local objectors – they claim it has grown well beyond the 'rural retreat' originally pitched. Ms Adams, 61, who has lived in Huntingfield since 2017, said: "We feel like we have been ignored and our views not considered – all in the name of money. "This is a very old village and a small farming community and we thought this development would be a good thing for the village. 'But we have already endured four years of construction disturbing the peace and calm of the village. "It has been distressing and Huntingfield has been ruined - Mr Hunt presents himself as a philanthropist but he's not. We feel our views have been ignored – all in the name of money.' Ms Adams previously told the MailOnline: "It's a David and Goliath battle." Another villager said: "No-one has thought about the effect on all our lives – the traffic, light-pollution noise and the effects on wildlife. "Some guests will arrive in helicopters – we have all been misled about the 'green' nature of this development." 9 9 Parish council chairman David Blackmore raised concerns at a recent meeting about 'the huge amount of traffic, noise and light pollution' caused by the guests. He said: 'We are not anti-development just anti the wrong development – and a huge wedding venue and party space has no place in our small village.' And a report from a planning consultant said that the venue 'will inevitably cause a great deal of noise and disturbance to the local area with loud music and and a massive increase in traffic.' Adding a claim that 'the council failed to take any action or issue any enforcement notices for the current development not being in accordance to the approved plans.' But not everyone is against the new facility – furniture maker Chris Kerridge, who lives in the village, said: "I come from here and lots of my family live around here. "Mr Hunt is creating jobs, employing lots of local people and is saving the place in a traditional way. 'He is restoring disused old buildings and putting them to good use – he has deep pockets and can afford to do that.' The Wilderness estate is described in its brochures as 'an eco-holiday resort for grand-scale entertainment' and famous guests who have already stayed there include Jack Whitehall and Zoe Sugg. Mr Hunt makes this year's recent 'Rich List' with a fortune of £1.427 billion pounds which means he is the 114 th richest person in the country. The planning committee also approved an application for an extension and modification One bid is for the extension and modification of the car park which had received 40 objections from the public. It was heard in the meeting that the proposal includes 53 parking spaces and the overflow car park was removed from the application in response to objections. The other proposal was a part-retrospective application for a building to house management services and overflow accommodation. The committee voted in favour to approve both the applications. A spokesman for Wilderness said: "We have been part of the community around Huntingfield for many years, supporting local businesses and jobs as well creating new natural habitats for wildlife. "We look forward to continuing to work with the local community to deliver more of these benefits in the future." 9 9 9
Yahoo
09-05-2025
- Business
- Yahoo
If EPS Growth Is Important To You, Foxtons Group (LON:FOXT) Presents An Opportunity
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad. Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like Foxtons Group (LON:FOXT). Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business. We check all companies for important risks. See what we found for Foxtons Group in our free report. Generally, companies experiencing growth in earnings per share (EPS) should see similar trends in share price. That makes EPS growth an attractive quality for any company. Recognition must be given to the that Foxtons Group has grown EPS by 39% per year, over the last three years. Growth that fast may well be fleeting, but it should be more than enough to pique the interest of the wary stock pickers. Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. The music to the ears of Foxtons Group shareholders is that EBIT margins have grown from 6.7% to 12% in the last 12 months and revenues are on an upwards trend as well. Both of which are great metrics to check off for potential growth. The chart below shows how the company's bottom and top lines have progressed over time. For finer detail, click on the image. View our latest analysis for Foxtons Group The trick, as an investor, is to find companies that are going to perform well in the future, not just in the past. While crystal balls don't exist, you can check our visualization of consensus analyst forecasts for Foxtons Group's future EPS 100% free. Investors are always searching for a vote of confidence in the companies they hold and insider buying is one of the key indicators for optimism on the market. Because often, the purchase of stock is a sign that the buyer views it as undervalued. Of course, we can never be sure what insiders are thinking, we can only judge their actions. Not only did Foxtons Group insiders refrain from selling stock during the year, but they also spent UK£121k buying it. That paints the company in a nice light, as it signals that its leaders are feeling confident in where the company is heading. Zooming in, we can see that the biggest insider purchase was by Independent Non-Executive Director John Callaway for UK£32k worth of shares, at about UK£0.64 per share. Foxtons Group's earnings per share growth have been climbing higher at an appreciable rate. Most growth-seeking investors will find it hard to ignore that sort of explosive EPS growth. And may very well signal a significant inflection point for the business. If this these factors intrigue you, then an addition of Foxtons Group to your watchlist won't go amiss. Now, you could try to make up your mind on Foxtons Group by focusing on just these factors, or you could also consider how its price-to-earnings ratio compares to other companies in its industry. Keen growth investors love to see insider activity. Thankfully, Foxtons Group isn't the only one. You can see a a curated list of British companies which have exhibited consistent growth accompanied by high insider ownership. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
23-04-2025
- Business
- Time of India
Britain: Foxtons' revenue jumps to 24% in Q1 2025
British real estate agency Foxtons reported a 24% jump in its first-quarter revenue on Wednesday, driven by a surge in buyers rushing to beat the end of the UK's tax relief for buying new and affordable homes . The expiration of temporary tax incentives for affordable homes and first-time buyers at the end of March spurred potential buyers to accelerate their plans in the months prior. However, Foxtons said that with many completions accelerated due to the relief deadline, its sales pipeline entering the second quarter was around 10% lower than last year. British housing demand has been weighed down by slower-than-expected interest rate cuts , inflationary pressures and economic uncertainty from a global trade war even as estate agencies and homebuilders have been cautiously optimistic about a recovery. "Despite ongoing macro volatility, with our market leadership position and resilient business model, I am confident we can drive further growth this year," Foxtons Chief Executive Officer Guy Gittins said. The London-focused agency posted group revenue of 44.1 million pounds ($58.68 million) for the three-month period ended March 31, with sales revenue growth of 73% and lettings revenue growth of 5%.
