Foxtons report 4% revenue increase to City, despite Prime Central London property experiencing a dead-cat bounce
Today Foxtons the British estate agency company dealing with both lettings and sales reported a 4 % increase in revenue. A fall in profits were recorded from last year as the firm said the London property market was taking longer than expected to recover from a slowdown following the May general election. The real estate group who famously listed on the London Stock Exchange, with a $1.2 billion 2013 stock market debut, reported it's annual results to the city , see below . Only weeks before saw a trading statement revealing 2015 sales, were 11 per cent down on the year before. Though last month the high street group revealed its turnover had slightly increased up four percent in 2015 to £150m - despite sales being 11 per cent lower the previous year. In December Foxtons started a buy-back of shares from its investors - a way of rewarding shareholders after what was seen as a difficult year. Two months earlier, in October, the agency sai...