Market Quote 28/07

Foxtons estate agent profits falls by 64% after EU referendum. 

London-centric real estate agent Foxtons released accounts for 2016/17 that show its sales income and net profits recede in Q1/Q2, citing“unprecedented” economic and political uncertainty affecting the property market. Pre-tax profit slumped 64 per cent from £10.5m to £3.8m. Revenue decreased 15 per cent to £58.5m in the 6 months to June 30.

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