Foxtons Revenues And Profits Slide In 'tough' Market

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

London-based real estate agency Foxtons says its profits more than halved in 2016 as property sales eased sharply in the aftermath of the EU referendum.

The firm announced profit before tax of £18.8m ($23m), down from the £41m profit recorded in 2015.

Revenue fell 11% to £132.7m as the introduction of the stamp duty premium and the uncertainty created by the Brexit vote hurt property transactions in the capital in the second half of the year.

Foxtons said market conditions had continued to remain tough in the first months of 2017 and added that it expected sales volumes to be lower this year if the current trend continues.

"Last year's London property market was severely impacted by an unprecedented sequence of events with changes to stamp duty and the EU referendum vote leading to a substantial reduction in property sales transactions, especially in central London," Foxtons chief executive Nic Budden said.

"We expect trading conditions to remain challenging throughout 2017. Should current sales activity continue through the remainder of this year, it is likely that 2017 sales volumes will be below last year."

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

Source : http://www.ibtimes.co.uk/foxtons-revenues-profits-slide-tough-market-1610346

Controlled

concern

Foxtons revenues and profits slide in 'tough' market
Foxtons: The housing 'market remains tough, especially in Central London'
Foxtons and Countrywide profits plunge as they blame 'unprecedented' uncertainty in the market
Pegasystems: Diving Into The Cloud Transition
Siemens industrial profit dives ahead of year of change
H-P's profit, revenue slide
Foxtons sees revenues slide again but hints it is riding out the storm
Estate agents' profits plunge as housing market slows
Earnings summary - ABF books FY growth in groceries; Boparan profits slide
Estate agents' profits plunge as housing market slows