17th May 2018 10:52
LONDON (Alliance News) - Estate agency Foxtons Group PLC said on Thursday that challenging market conditions in the first quarter of 2018 led to a drop in sales volumes and revenue.
The company recorded a revenue of GBP24.5 million for the three months to March-end, down from GBP28.7 million the prior year. The drop was attributed to lower sales pipeline, slow start to January and Easter timing.
"Whilst the sales pipeline has begun to improve it remains below where it was this time last year. The performance of our lettings business improved towards the end of the quarter and throughout April," Foxtons said in a statement.
Shares in Foxtons Group were up 3.9% at 73.20 pence on Thursday.
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