Foxtons Group PLC - London-based estate agency - Adjusted operating profit in 2023 is about GBP14 million, flat from GBP13.9 million in 2022 but above market consensus of GBP11.8 million. Revenue grows by 4.8% to about GBP147 million from GBP140.3 million, also beating market expectations, according to Foxtons. The estate agent says revenue continues to be driven by Lettings division, where revenue increased by about 16% to pass the GBP100 million mark. This more than offset revenue declines in Sales and Financial Services.

Foxtons says its Sales division enters 2024 with an under-offer pipeline "significantly ahead" of a year before. The group is well positioned to achieve its medium-term goal of GBP25 million to GBP30 million in annual adjusted operating profit, Foxtons says. It will release full 2023 results on March 5.

Current stock price: 51.40 pence, down 2.3% in London on Thursday

12-month change: up 35%

By Tom Waite, Alliance News editor

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