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Alexander Hall sees revenue jump by over a third in Q3

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  • 27/10/2022
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Alexander Hall sees revenue jump by over a third in Q3
Foxtons’ financial services business Alexander Hall reported a 37 per cent increase in revenue to £2.8m in Q3.

This represented a 27 per cent rise in mortgage transaction volumes and an eight per cent increase in the average revenue seen per transaction. 

For the nine months ending 30 September, financial services revenue was up by five per cent to £7.6m. 

Foxtons said the group was “committed to profitably growing” its financial services over the medium term. It said its rise in revenue reflected its increased headcount and the cross-selling of protection products. 

The wider business saw a 25 per cent growth in its revenue to £43.8m. 

It said while it was aware and mindful of economic and political uncertainty, Foxtons’ performance gave it confidence for the full year and it expects to deliver results beyond expectations for 2022. 

 

Foxtons: ‘Significant unfulfilled potential’

Guy Gittins, CEO of Foxtons, said: “I’m delighted to be back at Foxtons and to have met with so many of the talented team since my arrival in September. The business has significant unfulfilled potential and there is a shared understanding and vision of how we can deliver this. I am excited about leading this reset and determined we can get Foxtons back on the front foot. This quarter has seen continued positive momentum with growth across all areas of the business.  

“We enter Q4 with a less certain sales market backdrop, but cost action taken in H1 and our resilient lettings and financial services businesses leave us positioned to weather further macroeconomic and political challenges.”  

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