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Ok, will do !
:)
The MM's game play will be well and truly on this week, remember that they want sellers , so expect the unexpected !!
I mentioned a few weeks back how the government's think tank were hard at work on helping first time home buyers or those struggling with the affordability with their mortgages, well here's the first idea pitched, expect a few more in the next few weeks ahead of the early March budget.
All good for the housing market and yet more goods news for Foxtons :-
https://www.lettingagenttoday.co.uk/breaking-news/2024/1/row-over-government-bid-to-turn-renters-into-first-time-buyers
As of Monday's close this week Foxtons finished at 52.40p and after the shenanigans of the last few sessions the stock closed last night at.........52.40p no less !!!
What will the market do today ahead of the weekend press just in case there's a leak of the trading statement, very much doubt it if they take the stock to new highs again today but who knows ??
In any case I wouldn't mind adding a few more today in any tree-shake and will keep some powder dry ahead of next week just in case on trading statement day we get the narrative 'stock is down today as investors take profits after its 50% gain in a year........blah, blah, blah' and all that nonsense that goes with it.
Good luck with whatever your trading strategy is for today and next week, its going to be fun !!
#Long & Strong
Judging by the price action in yesterday's closing auction to prevent the stock from closing at yet another year high for 2024 and todays price action already with no doubt the obligatory 'tree-shake' around 12.00pm -14.00pm, could it be that the wider public gets to know how Foxtons are really doing as a business when the company announces next week ??
Will we finally get 'historic' or 'records broken' mentioned in the trading statement ??
Not long now !!
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/
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.
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 !!!
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 !
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 !
:)
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 !
Nice move this morning, let's see if it sticks.
Yes, there's more :-
Figures reveal UK's fastest growing lettings agency as 2024 starts........
'Foxtons claims it’s reached new heights under its latest management team.'
'The agency has been described as the is fastest growing UK lettings player as well as the fastest growing UK sales estate agent.
Industry consultancy TwentyCi has analysed the market for the first 11.5 months of 2023 before comparing this to the same period of 2022.
It found Foxtons enjoyed a.36 per cent increase in market share across the UK lettings sector in 2023 and across the UK sales market, Foxtons saw 28 per cent growth.
Both figures were well ahead of the next placed agency - Connells.'
And the article in full, ignore the last two paragraphs as that numpty and the Sunday times/city Am rag story gets another mention (Yawn !) :-
https://www.lettingagenttoday.co.uk/breaking-news/2023/12/figures-reveal-uks-fastest-growing-lettings-agency-as-2024-starts
Firstly a quick reminder of the final results from Foxtons in March 2022 published last year :-
2022 v 2021
Revenue £140.3m v £126.5m +11%
Adjusted operating profit(2) £13.9m v £8.9m +56%
Profit before tax £11.9m v £5.6m +115%
Adjusted earnings per share (basic)(3) 3.1p v 1.9p +63%
Earnings/(loss) per share (basic) 3.0p (0.4p)
Net free cash flow(5) £7.7m v £6.6m +17%
Total dividend per share 0.90p v 0.45p +100%
Foxtons absolutely smashed it in 2022 and despite me banging on how well the company had been doing up to and including Q3 in 2023, we got this gem in the Q3 interim statement back in October :-
' 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).'
Brilliant stuff eh, I wonder how much bung these lot received for keeping a lid on things ??
I also mentioned that Foxtons were breaking records in every area of the business with the exception of their sales division and now it appears that during the last quarter of 2023 the sales division of the business together with the rest of the company has had its best ever quarter in its history !
Whilst there was no deliberate mention of records being broken in either the Foxtons interim statement in the Summer and its Q3 statement, Mr. Gittins has now finally shouted from the rooftops as well at the Foxtons Christmas party that Foxtons are breaking records left right and centre and they have now become the UK's No.1 lettings and sales estate agency.
And just think, 2024 is set to be an even bigger year yet for the company !
Happy year new year all !
Well the year started off with a whole load of mini coopers and a handful of 'super' cars being awarded and the year is ending with another load of super cars being awarded to Foxtons' staff.
In the words of CEO Guy Gittins (He missed the 's' in Porsche) :-
'As we approach the end of 2023, I'm delighted to share another video of our target car ceremonies (the final two of 2023) as this demonstrates how relentlessly focused we have been on securing the right deals for our clients and customers.
From graduating out of our iconic Foxtons branded MINI Cooper to achieving the epitome of luxury in our Supercar category, every target car achievement truly embodies what has propelled us to be London’s number 1 estate agency brand.
While this is an incredibly special day for everyone, I was particularly pleased to hand Gareth Atkins the keys to his Porche Supercar as it was confirmed that we are the UK's largest lettings agent by volume. What a milestone!
Congratulations everyone who has attended a target car ceremony in 2023, it has been an incredible year, and I can't wait to see even more of you pick up your keys in 2024.'
https://www.linkedin.com/posts/guygittins_foxtons-wegetitdone-activity-7143274351038009344-6Wyg
Well okay, a few days early but good to see more positive press again today about the Housing market recovery in 2024. Its in nearly every rag this week and expect more bullish tones as the market commentators look ahead to next year.
So many positives for Foxtons as I have said all year and January come can't quick enough !!
Keep long & strong and let the market sweat the small stuff !!
After reading my posts this afternoon Mr Gittins has kindly updated his insta account in order for me to post on here a video of the 2023 Foxtons Christmas party :-
https://www.instagram.com/property_guy_gittins/