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TODAY'S OTHER NEWS

Analysts anticipate disappointing figures from Foxtons tomorrow

Industry and financial analysts are preparing for what may well be another round of difficult trading figures from London agency Foxtons.

Tomorrow the company is scheduled to release details of its 2017 performance in London’s challenging sales and lettings markets.

Last month it gave a preview, with a trading statement suggesting that group revenue in 2017 was circa £117m (down from 2016‘s £133m), with revenue for the quarter ending on  December 31 of around £24m (2016: £26m). 

EBITDA for the full year - that’s earnings before interest and other deductions - is expected to be approximately £15m, little more than half the £24.6m recorded in 2016. 

The industry publication Property Week says it expects Foxtons to report tomorrow more than a halving in pre-tax profit from £18.77m in 2016 to around £9m in 2017.

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