Foxtons Group PLC announced revenue results for the fourth quarter and year ended December 31, 2017. For the quarter, revenue was circa £24 million compared to £26 million a year ago. The reduction in full year Group revenue compared to the prior year was driven mainly by the significant fall in sales volumes in the first quarter of 2017, as the first quarter of 2016 benefitted from the surge in sales transactions ahead of the introduction of the stamp duty premium for buy to let properties and second homes. Sales revenue in the final quarter of 2017 was circa £10 million compared to £12 million a year ago.

For the year, Group revenue was circa £117 million compared to £133 million in 2016. Sales revenue for 2017 was circa £42 million compared to £55 million in 2016.

For the year 2017, Adjusted EBITDA for the full year is expected to be approximately £15 million.