Foxtons Group, the parent company of mortgage brokerage Alexander Hall, has revealed that the financial services business saw a 6% increase in revenue last year.
In its unaudited trading update ahead of the publication of its full results in March, Foxtons said Alexander Hall also saw its revenue jump 15% annually in the last quarter of 2024.
It said the broker firm had been focusing on implementing operational upgrades under new managing director Richard Merrett, who returned to the business in January last year. Merrett started his career at Alexander Hall in 2003 and worked for the company for 13 years.
Foxtons said the firm’s foundations had been “rebuilt” and it was “well-positioned” to deliver further growth.
The trading update did not include itemised revenue for each division of Foxtons Group, but as a whole, the business reported total revenue of around £163m for 2024, which it said was ahead of market expectations.
This was also 11% higher than the previous year.

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Its operating profit came to around £19m, also ahead of expectations, and a third up on the year before.
Foxtons said early observations suggested that new buyer activity in 2025 was above the levels seen in the prior year, despite uncertainty around the interest rate outlook and consumer confidence. It said the speed and extent of future interest rate cuts would likely determine the level of buyer demand in the market, “with faster interest rate cuts providing an opportunity for accelerated growth”.
Guy Gittins, chief executive of Foxtons Group, said: “I’m delighted that we have delivered a second consecutive year of revenue and profit growth since I returned to the business in September 2022, as our turnaround strategy continues to deliver results, and we ended the year with earnings ahead of market expectations.
“Our renewed focus on training, culture and retention, supported by our best-in-class data and technology, has driven double-digit market share gains in sales, and revenue growth in lettings. In addition, we have made two acquisitions in commuter towns as we expand into exciting new growth markets.”
He added: “We enter 2025 with optimism. We expect the lettings business to remain resilient and, in sales, we start the year with the highest opening under-offer pipeline since the Brexit vote in 2016. This dynamic, coupled with our results-driven culture and industry-leading Foxtons Operating platform, leaves us well-placed to continue to deliver against our strategic priorities in 2025.”