The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I’m almost hoping there are no bids for Foxtons, as I can see they’re on an exciting path with Mr Gittins. If I ever have a son, I might call him Guy.
I’m hearing lots of good things about the state of the central London market. If/when Foxtons sales can get back to 2015 levels, our share price should be closer to 2 quid. In 2015 we sold 5,500 properties. So there’s a way to go, and it won’t happen this year but perhaps will closer than a lot of people imagine. Current stock of properties for sale with Foxtons is 6,400. Number of properties under offer has certainly jumped up since Christmas. Isn’t this normally a quieter time of the year?
As you say, it’s interesting times and not many clouds on the horizon. Good luck to us all
Missed it it Superfast LOL Must have been the excitemt of the Belvoir/ TPG merger .Winkies as expected Some of the barnches are running very low on inventry there so maybe Q2 a bit concerning
So where will Dexters be flashing the cash next ?
You cant rule them out here What do you think it would take 125p?
WINK have already reported.
https://static1.squarespace.com/static/57179171b09f950e24ee4da0/t/659ecd3ff51fe149427e8369/1704906047316/Trading_Update_100124.pdf
Yes he does talk some sense.He has been around the block.
Maybe the use of fhe word "meteoric" more appropriate for Countrywide SP during their last 9 mths rising frrm 47p to 394p in Jan 2021
More like recovering a bit of lost ground for Foxtons
Still maybe our day will come and the door gets knocked. ?
He is right though about Purplekbricks/Strike though .The customer realising thatyou can't get a good service on the cheap.
Already potential buyers complaining of being grilled by financial services for 40 minutes trying to sell a mortgage before a viewing is confirmed.
Should imagine Winkies will be reporting next week They are usually quick off the mark . Maybe revenue down 20% in H2 for them ?
Yep, that's one headline we'll never see, we've seen the headlines 'Foxtons share price up 50% in the last few months' and the 'Foxtons share price up by 75% in a year' but these numbnut market commentators never mention the fact that the company lost around 93% of its valuation since 2014 after hitting £4.00 a year after its floatation !
After all the 'experts' tips in the weekend papers since the turn of the year, I think its only the Telegraph that gave a brief mention about Foxtons, the next few weeks will be very interesting indeed !
In the meantime here's a good article posted on Friday on the property eye website, its from Paul Smith at SpicerHaart with some good points and a very interesting last paragraph :-
https://propertyindustryeye.com/buckle-up-for-another-challenging-year/
So-sales may be down 20% and costs are up not to mention buying businesses do not come free-whats your reasoning to think the results will be the best in the history of Foxtons .You on about TO or making money
As long as its 120-150 plus I multi bag and can live with that lol
On a more short term view , my post on the retrace and reload to what think will be new highs ( recently hit) sticks . am comfortable that we'll pass the recent highs Lets see as I hold
Yep, another takeover/merger this morning to add to the wave of consolidation in the sector and here's a thought.
Remember all those large volumes in Foxtons shares late last year which I posted on here and which made up roughly about 25% of the shares in the company.
Well, if a predator wanted to pounce on Foxtons would they wait for the trading statement in a couple of weeks time which will be the best in Foxton's history since 2014, hoping that Mr. Gittins may throw in a curve ball of some sorts to get the price down and deter new buyers of the shares ??
I can't see it myself or it could just be that someone out there like the rest of us on here are just building a nice healthy and profitable stake in the company to milk the good times ahead ?
Not long to find out.
Belvoir/TPFG merger can only be good fo the listed estate agent sector as tjhe predators look for abit of action
Sit back ,tighten those seat belts
IiIt's kicked off alraedy Belvoir and TPFG to merge
https://www.londonstockexchange.com/news-article/BLV/recommended-all-share-merger-with-tpfg/16282259
I suspect momentum is about to re gather and re-test the recent highs a pullback was necessary as too stretched but now it isn't anymore and on a healthy uptrend could re-test the highs and go through them as it has space to do so . I prefer a slow up trend personally .
Of note the healthy gilt auction today was good . Wonder if it will put pressure on rates to decrease hence positive for real estate
Revenue of £150m seems nailed-on for 2023 imo. And maybe £175m for 2024.
Just a couple of weeks until the next update.
The CEO needs a sp of 70p plus for a sustained period for his share scheme to pay out. That could happen this year.
Remember this quote back in October in Foxtons' Q3 Statement, I've mentioned it before but here it is again :-
'...... Consensus expectations for Foxtons Group plc, being the average of forecasts for the year ending 31 December 2023 provided by analysts covering the Group, is revenue of £141.5m and adjusted operating profit of £11.8m (adjusted operating profit includes the amortisation of acquired intangibles).'
And now compare this to another gem back in October the previous year 2022 in the Guardian business news and from the 'house broker' no less :-
'.......Singer, Foxtons’ house broker, upped its 2022 forecast for the company by 12% to an adjusted pretax profit of £11.7m, but predicted a drop to £10.4m next year.'....
And to think, they get paid to write that load of nonsense, bet their clients must be extremely happy paying for their services !!
The article in full :-
https://www.theguardian.com/business/2022/oct/27/foxtons-estate-agent-revenues-rise-forecasts-tougher-2023
Okay, like clockwork the Friday tree-shake and it appears that an agency cross trade of 230,000 shares at 48.907 was done at around 13.5pm so expect to see the other side of the trade either after hours today or some time on Monday, its how the games are played by the MM's sadly all above board for them and total market abuse if we tried it !!!
Wow that would be fantastic. If the London market has 20k more transactions, that would equate to an extra 1400 sales for Foxtons, that’s about 16m in extra revenue
Heard him on radio 4 this morning in bullish agent mode predicting London market to have 20k more transactions this year than last.
Not only have Foxtons been smashing it out of the park here at home but their London based Asia Pacific team have also posted a stellar year :-
'What a year it's been! 2023 was filled with rewarding milestones - 3 promotions, hitting car targets thrice, 4 successful overseas business trips, and a remarkable 22% revenue increase. Grateful for an exceptional team at Foxtons New Homes. '.............
And the link in full :-
https://www.linkedin.com/posts/freya-wan-%E4%B8%87%E9%A3%9E-558711a9_foxtonsapac-onwardsandupwards-londonproperty-activity-7147328255128190976-3UnS
Over the last year or so there have been a few tree-shakes in Foxtons shares on a Friday, so perhaps today could be the last and final one although there aren't sellers of the stock just buyers, especially now the company is getting rave reviews all this week and will be no doubt a 'stock for 2024' come the weekend papers tipsters !
Yes we saw yesterday afternoon what the MMs were up to and they're out in numbers again this morning, all good fun !!
Buy the MM's false dip if funds allow of course !
Interesting that the Algo trading has appeared and increased here. Looking at yesterday's trading they mostly appeared as sells. Is someone trying to keep a lid on the recent momentum in order to stake build?
Yep, this time its Rightmove's turn, good for the sector and thus more good news for Foxtons :-
'Record Boxing Day ‘bounce’ for agents claims Rightmove......
Demand also soars with the number of buyers contacting estate agents jumping by 273% between the Christmas Day lull and Boxing Day. '
And the article in full :-
https://thenegotiator.co.uk/boxing-day-sees-record-number-of-sellers-come-to-market-on-rightmove/
The stock was heavily shorted so expect a bounce there and fingers crossed Foxtons can continue from where it left off yesterday, either way its going to be another fun packed day !!!
#Long & Strong
All the signs are there lets see what the delayed prints are like after hours !
:)
From Reuters 3/1/24 at 11:43
** Shares of UK's real estate agent Foxtons Group Plc FOXT jump as much as 13% to 53p, their highest since Oct. 29, 2021
** Co finishes 2023 as the fastest-growing UK agent for both lettings and sales, according to property data and analytics firm TwentyCi
** The London-based firm saw a 36% increase in market share across the UK lettings sector in 2023 compared to the previous year; Co's market share up 28% in the UK sales sector
Torygraph readers have woken up from the weekend rec.
Finally, finally our man Mr. Gittins has admitted how well Foxtons are doing courtesy of this post this morning and hence the rise in the stock ............ :-
'WOW! 2023... what a year and there is so much more on the horizon for 2024!'
I am bursting with pride as I reflect on the remarkable achievements of our incredible team in 2023. It will be etched in our history as one of the most phenomenal ever at Foxtons a testament to the unwavering commitment and hard work of every individual who is a part of the Foxtons family.
Last year was all about rebuilding our position in the industry and I can proudly say we reclaimed our position as London’s number one sales and lettings agency brand. This achievement was a direct result of the dedication and relentless efforts poured in by each person at Foxtons.
Not only this, but we acquired two brilliant agencies, Atkinson McLeod and ludlowthompson meaning team Foxtons is growing to be bigger and better than ever before.
2023 was our best revenue year in almost a decade! Sales made a significant leap forward in market share and our Lettings and Property Management achieved record-breaking revenue. Not forgetting Alexander Hall who finished a fantastic year with the foundation laid for substantial growth this year.
Our achievements were not limited to business alone – we celebrated success on three amazing superstar trips to Courmayeur, Marbella, and Bruges. At our monthly car ceremonies, a record number of new cars were given out to reward the outstanding contributions of our team. We also created the first truly end-to-end digital lettings solution in the UK.
It's clear that Foxtons is poised for even greater success in 2024. We have kick-started the year with our brilliant new campaign, Grab January by the Foxtons. With the team's proven track record of helping people sell their homes faster than the average estate agent, if you're looking to buy, sell or let a property, why not Grab January by the Foxtons and our amazing team of sales and lettings experts will guide you towards your perfect home.
Thank you for all your efforts in 2023 team Foxtons. We have so much more to achieve in 2024.'
And the link :-
https://www.linkedin.com/posts/guygittins_wegetitdone-activity-7148014046477291522-f5vJ?trk=public_profile
Nice !
From a technical view:
Broke out of triangle pattern in November 2023 and is now heading for 70.
45-50 was support turned resistance from Jul 2018 to Oct 2019, but today that looks to have been taken out.