Foxtons' Profits More Than Halve As London's Slumping Property Market Hits Home

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George Salmon, analyst at Hargreaves Lansdown, said: “Unfortunately, Foxtons is bearing the brunt of the troubles facing the London property market."

He added: "Investors can take some comfort in the lack of debt on the balance sheet and the reliable income the lettings business offers, but sales dropped sharply in the second half of 2016, and the early indications are that this trend is continuing into 2017. Considering the group’s gloomy outlook, it appears the uncertainty around the capital’s property market won’t be shifting in the short term."

Anthony Codling, an analyst at Jefferies, had a more positive view. "As ever Foxtons is not taking the current challenges lying down and it will emerge stronger fitter and leaner than before," he said.

The company will pay no special dividend for last year. Its total payout to shareholders will be 2p a share, down from 5.01p a year earlier.

This is source I found from another site, main source you can find in last paragraph

Source : http://www.telegraph.co.uk/business/2017/03/08/foxtons-profits-halve-londons-slumping-property-market-hits/

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