Foxtons Group Live Discussion

onedb1 27 Jan 2015

Re: FOXT Profit Warning. oldjoe are you short ? lol ) Seems like the market didn't agree with your negative view . Maybe because despite the points you make the market was expecting far worse . Lets also face around 9.7p net for the full year divi is not a bad return ( at 180p current share price , that is a sweet 5.38% yield . In absence of higher interest rates at these levels Foxtons looks attractive , company with no debt that has more that halved its market cap . I was short for ages as posted on this BB ( out now ) but will consider a return to the long camp . The fact is that with the implied bond curve showing no signs of rising rates , any divi paying company will look attractive , especially after it has bombed out . Remember this hit $4.00 . I have my thinking cap on as am not in at the moment , short or long

oldjoe1 27 Jan 2015

Re: FOXT Profit Warning. TelegraphBritain's cooling property market hit sales at Foxtons in the fourth quarter, as the London-focussed estate agent said activity was unlikely to pick up until after May's general election."Subdued" growth in central London drove a 12.1pc reduction in turnover in the final three months of the year, although revenues from residential lettings grew by 7.7pc, the company said in a statement on Tuesday.While full year group turnover rose 3.4pc, Foxtons said it expected conditions to remain challenging over the coming months, with uncertainty over the outcome of May's general election expected to put-off buyers."The residential property sales market continues to be subdued in central London, with volumes consistent with those seen in late 2012 and early 2013," the company said. "We do not anticipate a recovery in sales volumes until after the General Election in May."

oldjoe1 27 Jan 2015

Re: FOXT Profit Warning. Anthony Codling, an analyst at Jefferies, said the trading update had raised questions over Foxtons’ sales performance. “Foxtons’ growth in transactions was significantly below the market,” he said.

oldjoe1 27 Jan 2015

Re: FOXT Profit Warning. This says it all........The residential property sales market continues to be subdued in central London, with volumes consistent with those seen in late 2012 and early 2013. Despite Q4 sales commission being down 25.7% on the comparative period last year when the London sales market was operating at its highest level since 2008, full year sales commission of £70m was 3.6% up on prior year. As indicated in our October 2014 Interim Management Statement, we do not anticipate a recovery in sales volumes until after the General Election in May

oldjoe1 27 Jan 2015

Re: FOXT Profit Warning. margin is expected to be above 30%.now look what they said on the 23rd of October 2014..............Q3 Adjusted EBITDA margin2 was 35.6% compared to 43.7% during the same period last year

oldjoe1 27 Jan 2015

FOXT Profit Warning. <b>PROFIT WARNING.Here are the forecasts, NUMIS were expecting EBITDA of £47.30 million.The Total Broker Concensous figure was £47 million.</b> Margins look way down.Foxtons Group PLCFORECASTS2014 2015Date Rec Pre-tax (£ EPS (p) DPS (p) Pre-tax (£ EPS (p) DPS (p)Canaccord Genuity Ltd24-10-14 BUY 12.06 13.48Numis Securities Ltd23-10-14 BUY 42.40 11.80 10.30 <b>47.30</b> 13.40 12.50GROWTH2013 (A) 2014 (E) 2015 (E)Norm. EPS 57.86% -3.19% 12.66%DPS % % 21.36%INVESTMENT RATIOS2013 (A) 2014 (E) 2015 (E)<b>EBITDA £49.85m £47.00m £52.10m</b>EBIT £46.17m £m £mDividend Yield 0.00% 6.06% 7.35%Dividend Cover x 1.16x 1.08xPER 13.80x 14.25x 12.65xPEG 0.24f -4.47f 1.00fNet Asset Value PS 8.60p p p

onedb1 19 Jan 2015

Is the sector and especially the south East and London area going to have to wait till the elections ? I think so and can't see much volatility here either way . Anyone with a different take ? Boring till elections ? It seems to be that the only sector our various governments whether a labour or conservative one will take money from will be property mainly in the South east . The vote loss calculation in their minds is probably small vs the rest of the country and also poorer South Eastern voters . Plus where can the politicians steal money from these days ? Property is the last cash cow to milk . Then it's the abyss I think . I would be interested to hear from others . Positve , negative etc . All the best

oldjoe1 14 Jan 2015

Re: hate to brag but I did call this 23rd October 2014 Interim Management Statement....OutlookAlthough the longer term outlook for London property markets remains positive, the market is expected to continue to be constrained for some time due to political and economic uncertainty within the UK and Europe, tighter mortgage lending markets and mismatches between the price expectations of buyers and sellers. These external headwinds have exacerbated the rate of slowdown in sales transactions we noted at the time of our H1 results. Market volumes in Q3 have been more in line with the first half of 2013 and we now believe that market volumes in H2 2014 overall will be significantly below levels during the same period last year. Consequently, we expect full year 2014 adjusted EBITDA to be below the prior year figure of £49.6m.