StockMarketWire.com - London Estate Agent Foxtons Group reported wider half-yearly losses on lower revenue in its sales business amid ongoing weakness of the London market. The company also said that it expects conditions to remain challenging.

For the half year ended 30 June 2019, pre-tax losses widened to £3.2m from £2.5m as revenues slipped 3.5% to £51.1m.

Revenue of £31.7m from its lettings business, unchanged from a year earlier, was offset by a 10% fall in sales revenues to £15.4m.

'Looking ahead, we expect conditions to remain challenging and have effectively positioned the business to reflect this. In lettings, we expect our ongoing commitment to landlords in light of the tenant fee ban to improve further our proposition and we are confident this will continue to drive market share,,' the company said.




At 8:23am: [LON:FOXT] Foxtons Group PLC share price was -1.35p at 57.05p



Story provided by StockMarketWire.com