Pursuits
Foxtons May Slow Expansion as Brexit Hurts Earnings
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Foxtons Group Plc, the London-focused real estate broker, may slow the pace of branch openings after first-half profit fell on tax increases and uncertainty over Britain’s vote to leave the European Union. The shares fell.
Net income dropped to 8.4 million pounds ($11.1 million) from 14.4 million pounds, the company said in a statement on Friday. The result of the Brexit vote makes a recovery in the second half unlikely, Chief Executive Officer Nic Budden said. The interim dividend is being maintained and no special divided will be paid.