February 28, 2020 / 7:31 AM / a month ago

UK's Foxtons profit slumps 30% on weak property market, tighter regulations

Feb 28 (Reuters) - Real estate agent Foxtons on Friday reported a 30% plunge in adjusted core profit for 2019 as Britons bought and sold fewer homes and its letting business was hurt by the ban on tenant fees.

Adjusted earnings before interest, tax, depreciation and amortization, on a pre-IFRS 16 basis, fell to 2.5 million pounds ($3.25 million) in 2019, from 3.6 million pounds a year earlier. ($1 = 0.7696 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Sriraj Kalluvila)

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