Foxtons’ chair steps down in wake of ‘impaired’ trading performance July 7, 2021 Chairman Ian Barlow has announced his intention to step down from Foxtons’ board later this year, after the estate agent’s share price plummeted during the Covid pandemic. Barlow will step down no later than 31 December 2021 after nearly nine years on the board. Foxtons has had a tough year fending off criticism from [...]
Government faces post-Brexit High Court challenge over sugar tariffs July 2, 2021 The government is facing a post-Brexit legal challenge over trade policy, after the High Court agreed that a decision to cut sugar tariffs should be reviewed judicially. British Sugar is bringing the case against international trade secretary Liz Truss in response to her decision to allow 126,000 tonnes of raw cane sugar to enter the [...]
Foxtons faces yet another investor revolt over executive pay and share price June 7, 2021 Hosking Partners, which owns 11.2 per cent of Foxtons, has called for “board-level change” at the estate agent over concerns about its share price and its bosses pay. Jeremy Hosking, the boss of Foxtons’ biggest investor, wrote to chairman Ian Barlow to outline his dissatisfaction, the Times first reported. Hosking expressed frustration about the [...]
Foxtons expect profits to shoot ahead of past two years June 3, 2021 Foxtons confirmed to markets this morning that they expect profits to be “significantly ahead of both 2020 and 2019” after a bumper start to the year. The firm has seen a 49 per cent increase in Q1 sales revenues versus both 2020 and 2019, and the sales commission pipeline is now 65 per cent ahead [...]
General Electric shareholders reject CEO’s mammoth $73.2m pay package May 4, 2021 A majority of shareholders at General Electric have rejected pay packages for senior officers, including CEO Larry Culp, who was set to receive a package worth $73.2m for 2020. Nearly 58 per cent of shareholders rejected GE’s pay packages, a strong rebuke to executives of the industrial company, which is in the middle of a [...]
Foxtons to review chief’s pay following shareholder revolt April 22, 2021 Foxtons will review its remuneration policy after nearly 40 per cent of shareholders voted against executive pay packages. Foxtons faced criticism from investors and shareholders groups over its decision to award CEO Nic Budden almost £1m in bonuses for the year. Shareholders’ concern centred on the group paying out bonuses to executives despite a sharp [...]
Foxtons sees revenues rocket amid stamp duty-driven housing boom April 14, 2021 Foxtons has seen impressive revenue growth in the three months to 31 March, at a time when house prices are at an all-time high amid the stamp duty holiday. Group revenue at the estate agent in the first quarter of 2021 stood at £28.5m, up 24 per cent on the same period last year. [...]
Foxtons revenue rebounds in 2021 after lockdown hit London sales and lettings last year March 10, 2021 London estate agent Foxtons this morning said revenue had boomed at the beginning of this year as the market continued to be buoyed by pent-up demand and the stamp duty holiday. Foxtons said revenue for the first two months of 2021 is “well ahead” of both last year and 2019, with the sales commission pipeline [...]
House prices rebound unexpectedly in February on hopes of stamp duty extension March 2, 2021 House price growth beat expectations last month rising 0.7 per cent month-on-month, according to Nationwide’s latest figures. It brings year-on-year growth to 6.9 per cent from 6.4 per cent in January, beating the consensus 5.5 per cent. It more than offsets the 0.2 per cent monthly decline recorded at the start of the year. No [...]
Takeover target Signature Aviation swings to $24m loss March 2, 2021 Takeover target Signature Aviation today hailed its “resilient performance” in 2020 as the private jet firm swung to a $24m (£17.3m) loss before tax. After the worst year in history for aviation, the company said that its flight activity was down just 17 per cent in February, compared to 77 per cent last April. It [...]