Foxtons Group (FOXT) Q3 2026 TU earnings summary

Executive summary

• Resilient Q3 trading despite challenging market conditions, supported by recurring Lettings revenue; performance in line with management expectations.

• Full-year adjusted operating profit expected within the £17m–£19m range guided in July.

Financial highlights

• Q3 revenue £45.9m, down 6% YoY; 9M revenue £129.6m, down 4% YoY.

• Q3 revenue excluding £2.7m of RRA-related early termination impact was marginally ahead YoY, including £1.0m incremental acquisition revenue.

• 9M revenue excluding £5.7m of early termination impact rose £3.5m YoY, including £2.6m incremental acquisition revenue.

• H1 cost reduction actions generated £4.5m of annualised savings.

Outlook and guidance

• Early terminations eased through Q3 and October; re-letting activity remained robust, with disruption viewed as a short-term transition and longer-term RRA benefits expected.

• Four acquisitions are expected to deliver attractive returns above the 20% ROIC target through operational synergies and scale benefits.

• Priorities include recurring Lettings growth, acquisition returns, productivity improvements and value-enhancing technology, including AI.