The Foxtons Group Plc Board has declared an interim dividend of 0.24p per share (2024: interim dividend of 0.22p per share) under the Group's progressive dividend policy. Payment will be made on 15 September 2025 to shareholders on the register at close of business on 8 August 2025. The shares will be quoted ex-dividend on 7 August 2025. The Company operates a Dividend Reinvestment Plan ("DRIP"), which is managed by its registrar, MUFG Corporate Markets. For shareholders who wish to receive their dividend in the form of shares, the deadline to elect for the DRIP is 22 August 2025.
Other financial highlights include:
Group revenue up 10% to £86.1m:
- Lettings revenue up 4%, supported by incremental contributions from recent acquisitions, the resilience of the core portfolio and growth in value-added property management services.
- Sales revenue up 25%, with our strong market position enabling us to benefit from elevated market transaction volumes in the first quarter ahead of the stamp duty deadline. Growth was further supported by incremental acquisition revenues.
- Financial Services revenue flat, as higher new purchase mortgage volumes were offset by the phasing of refinance activity, which is weighted towards H2.
- Non-cyclical and recurring revenues generated 65% of total revenue in H1.
Adjusted EBITDA up 32% to £13.8m, adjusted operating profit up 31% to £12.3m and profit before tax up 35% to £10.2m.
Profit growth outpaced revenue, driving a 230 bps increase in adjusted operating profit margin to 14.3%, reflecting growth in higher margin property management revenues, acquisition synergy delivery, ongoing cost control initiatives and the operating leverage within the business model.
Improved net free cash flow (2025: £3.6m; 2024: (£0.9m)) reflecting increased profitability and improved cash conversion. Net debt at 30 June 2025 of £18.2m (31 December 2024: £12.7m) reflecting £3.6m of net free cash flow generation, £3.1m of earnings-accretive acquisitions, and £5.7m of shareholder returns.
