Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Foxtons Group PLC (FOXT)

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Wednesday 11 January, 2017

Foxtons Group PLC

Trading Update for year ended 31 December 2016

RNS Number : 8440T
Foxtons Group PLC
11 January 2017
 

FOXTONS GROUP PLC

TRADING UPDATE

11 JANUARY 2017

 

 

 

Foxtons plc (LSE: FOXT) (the "Company"), London's leading estate agency, issues its trading update for the year ended 31 December 2016 ahead of its audited results announcement on 8 March 2017.

 

                            

Total group revenue for the year was circa £133m (2015: £150m), with revenue for the quarter ended 31 December 2016 totalling circa £26m (2015: £35m). Adjusted EBITDA1 for the full year ended 31 December 2016 is expected to be approximately £25m (2015: £46m).

 

The reduction in Group revenue for the year reflects the significant fall in sales volumes immediately following the first quarter of 2016. In the final quarter of 2016, sales revenues were circa £12m (2015: £20m) as volumes remained subdued. Lettings revenues in Q4 were circa £13m (2015: £13m) and have remained more resilient, benefitting from our high levels of renewals despite lower levels of new tenant activity and some downward pressure on rents arising from increased stock availability. Our lettings business remains a consistent and recurring revenue stream which comprises over half of group revenues. 

 

We have continued to focus on maintaining tight cost control while market conditions remain challenging, which provided protection to our EBITDA margin during the second half of the year.

 

Nic Budden, CEO, commented:

"Despite a challenging year across the residential property markets, we have continued to make good progress in respect of our strategic initiatives, including building our presence in PRS and new homes, and leveraging our technology using data analytics and digital marketing to enhance our customer proposition. We also opened seven new branches in 2016 and a further two branches in outer London are due to open in Q1 2017.

 

Looking ahead, we expect trading conditions to remain challenging in 2017. Should current levels of sales activity continue in the short term, it is likely that 2017 volumes will be below those in 2016. Our balanced business model provides resilience against sales market cycles and we have a strong balance sheet with no debt. Our high-touch approach to customer service continues to be a key differentiator and as the most recognised residential brand in London, we are uniquely positioned to manage through the market uncertainties and take advantage of any change in conditions."

 

For further information, please contact:

Foxtons Group plc          

Jenny Matthews, Investor Relations Manager

+44 20 7893 6484

Tulchan Communications LLP

Peter Hewer/Jessica Reid

+44 20 7353 4200

 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via a Regulatory Information Service this inside information is now considered to be in the public domain

 

 

Forward Looking Statements

 

This trading update may include statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Group undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date such statements are published. 

 

Notes

1.   Adjusted EBITDA is defined as profit for the period before finance costs, finance income, tax, exceptional items, depreciation, amortisation, profit on disposal of property, plant and equipment and share-based payments.

 

 

About Foxtons Group plc

 

Foxtons was founded in 1981 with the first branch opened in Notting Hill Gate. Today with 65 branches and growing, the Group focuses on the higher-volume, higher-value property markets in London.  The Company is able to generate high margins through its business model, which combines:

 

·     A strong single brand;

·     High levels of centralisation allowing low cost expansion of branches;

·     An innovative application of technology; and

·     A powerful culture of sales and service through outstanding training and staff development

 

The Group has a clear strategy to grow profitability by:

·     Targeting higher-volume, higher-value residential property markets in London;

·     Maintaining a balance between sales and lettings;

·     Providing a premium service which supports premium prices;

·     Expanding organically to maximise return on capital; and

·     Positioning itself for sales volume market growth.

 

Foxtons is a multi-award-winning estate agency, winning at prestigious 2016 events such as the Sunday Times: Best UK Large Lettings Agency (Gold three years running), Estate Agency of the Year (Silver), Best Website (Gold), Training & Development (Bronze); the Telegraph Property Awards: Best UK and London Lettings Agency (Gold ), Best London Estate Agency (Gold) and Best International and UK Estate Agency Website (Gold); and many more. These awards acknowledge our work-hard, results-driven attitude and dedication to quality service. 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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