Foxtons Group (FOXT) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 saw operational progress with Lettings revenue growth, two acquisitions, and repositioning of the Sales business to reflect market conditions.

• Trading remains in line with expectations and full-year guidance is unchanged.

• Strategic focus on recurring revenues and cost actions to mitigate market headwinds.

Financial highlights

• Total group revenue for Q1 2026 was £39.6m, down 10% year-over-year from £44.1m.

• Lettings revenue rose 5% to £26.4m, driven by organic growth and acquisitions.

• Sales revenue declined 35% to £10.7m due to a strong prior-year comparator and subdued market.

• Financial Services revenue increased 3% to £2.6m, supported by refinance activity.

Outlook and guidance

• Full-year guidance remains unchanged, with confidence in Lettings and Financial Services resilience.

• The Renters' Rights Act implementation in May 2026 is expected to create growth opportunities.