Foxtons Group plc

Capital Markets Event 2025

Delivering the next stage of growth, including a new target to deliver £50m of adjusted operating profit in the medium-term.

4 June 2025 - Foxtons Group plc (LSE: FOXT) ("the Group" or "Foxtons") is today hosting a Capital Markets Event to outline the next phase of its growth strategy.

Today, the Group will introduce new medium-term financial targets, including a target to deliver £50m of adjusted operating profit¹ - more than double the amount achieved in 2024². The updated targets reflect the significant progress made to date, the scale of the opportunity ahead and the continued momentum towards the Group's original target of delivering £28m to £33m of adjusted operating profit, as announced in March 2023.

The Capital Markets Event will take place today from 9:30am to 11:30am at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS, for pre-registered attendees. A live virtual broadcast will also be available to professional investors and market participants via the London Stock Exchange's Spark Live platform, accessible through the link below. The presentation will be followed by an opportunity to ask questions of the management team.

Strategy and operating model built for scale

Foxtons' strategy and operating model are designed for scale, built on a strong foundation that positions the business to deliver the next level of growth. The focus remains on growing non-cyclical and recurring Lettings revenue, both organically and through acquisitions, alongside enhancing profitability in Sales and increasing cross-sell opportunities within Financial Services.

The delivery of the strategy is underpinned by the industry-leading Foxtons Operating Platform, which brings together best-in-sector technology, advanced data capabilities powered by over 20 years of data, a leading brand, best-in-class people and training, and a scalable hub-and-spoke model that creates significant operating leverage. Upgrades to the Operating Platform across technology, data, customer experience and people and culture will further strengthen Foxtons' competitive advantages and support continued growth:

·    Acceleration of the acquisition strategy and expanding into new markets: The Group will focus on bolt-on acquisition opportunities within Foxtons' core London market, as well as expanding its footprint into new, high value commuter markets.

·    Integrating data and AI across the technology stack: Since 2021, Foxtons has embedded data at the heart of its operations, driving consistent market outperformance and establishing itself as a data-led estate agency. The Group is now enhancing its proprietary, estate agency-optimised tech platform with AI to improve decision-making and operational efficiency. Initial AI application in propensity modelling, lead scoring and customer service systems are already demonstrating clear commercial impact and delivering measurable ROI.

·    Driving loyalty across the customer lifecycle: Foxtons is developing a customer-centric strategy aimed at increasing customer lifetime value by focusing on long-term customer engagement and retention. Technology plays a key role, with initiatives designed to enhance the customer experience and build lasting relationships, including real-time feedback systems, AI sentiment analysis, and a bespoke end-to-end digital Lettings platform.

·    People, culture and training: People are at the heart of estate agency, and the Group continues to invest in training and culture to support high performance. This focus ensures teams are equipped to deliver exceptional service and remain a key driver of the Group's competitive advantage.

Guy Gittins, CEO of Foxtons, said: "Today, we set out stage two of our growth plan, building on the strong progress we've made over the past few years to reshape the business. We have more than doubled our profit since 2021 and our ambition is to double it again in this next phase of growth, and accordingly we have set out a new target to deliver £50m of adjusted operating profit in the medium term.

"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, and I'm confident we have the right strategy, people and the best technology-led platform in the industry to power our future growth and create long term value for shareholders."

The virtual presentation link can be accessed at the following link:
https://sparklive.lseg.com/FoxtonsGroup/events/d34a80ed-0c20-4a27-89be-53790b90436e/foxtons-group-plc-capital-markets-event-june-2025.

The presentation materials will be available following the event at the Group's corporate website: https://www.foxtonsgroup.co.uk.

The Group will release its H1 2025 results on 30 July 2025. No further information on trading will be provided at the Capital Markets Event.

For further information, please contact:

¹ Adjusted operating profit is defined as profit before tax before amortisation of acquired intangibles, finance income, finance cost, other gains/(losses) and adjusted items.

² 2024 reported adjusted operating profit of £21.6m.

About

Founded in 1981, Foxtons is London's leading estate agency and largest lettings agency brand, with a portfolio of over 31,000 tenancies. The Group operates from a network of interconnected branches in London and high growth commuter towns, offering a range of residential property services across three business segments: Lettings, Sales and Financial Services. 

The Group's strategy to accelerate growth is focused on non-cyclical and recurring revenues from Lettings and Financial Services refinance activities, supplemented by market share growth in Sales. This growth is underpinned by its key competitive advantage, the Foxtons Operating Platform, which comprises unrivalled and market leading technology and data capabilities, its leading brands, unique hub and spoke model and its performance-led and inclusive culture. 

To find out more, please visit www.foxtonsgroup.co.uk.