Foxtons to begin re-opening branches this week; commissions slump 44%

Tue, 26th May 2020

Real estate agency Foxtons said it would be begin re-opening its branches over the course of this week, with all of them expected to open by 1 June. The company also reported a slump in commissions as lockdown measures weighed on growth. In the eight weeks between Monday 23 March and Friday 15 May, commissions earned fell 44% on-year, with lettings commissions and sales commissions, down 40% and 61%, respectively. Mortgage broking revenues, meanwhile, slipped 2%. Story provided by StockMarketWire.com

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