Profits continue to plunge at Foxtons as sales market remains “subdued”

first_imgHome » News » Agencies & People » Profits continue to plunge at Foxtons as sales market remains “subdued” previous nextAgencies & PeopleProfits continue to plunge at Foxtons as sales market remains “subdued”Foxtons keeps its No.1 position in London in both sales and lettings, its half year results show.Nigel Lewis27th July 20170733 Views Profits and turnover at Foxtons have dropped dramatically, the company’s half year results reveal.Group revenue reduced to £58.5m, down from £68.8m during the same period last year, while profits before tax nearly halved from £13.1m to £7.1m.The continuing pain comes from its sales division, which saw revenues down nearly a third to £22.2m compared to last year, and which the company says is a “subdued market” that is “negatively weighed upon by continuing political and macro-economic uncertainty”.London’s sales market continued to cool during the first half of the year, not helped by the General Election, the company says. The number of homes sold by Foxtons from January to June this year dropped to 1,544 from 2,314 last year.But the Foxtons lettings machine continues to deliver. Revenue from tenants reduced by only 2% which the company blames on dropping rents, which it says dipped by 4% in June, although volumes increased by 1%.London rents fallingThe company says it’s becoming increasingly a renters market in London and that fewer overseas tenants and “inflationary pressures on wages” are forcing rents down.Foxtons says overall the overall average rent in London was down 5% during the first half of the year when compared with 2016 from £461 a week to £440.CEO Nic Budden (pictured, left) says Foxtons grew its rental portfolio by 400 properties during the first half of the year, taking its total to 19,800.Budden has also been reigning in operating costs, which are down by £3.7m, plus the company has a balance sheet that remains debt free and that, since IPO in 2013, Foxtons has returned £93m to shareholders.Foxtons also says it remains the No.1 agent in London for both sales and lettings and in 2016 conducted 40,000 viewings a month, achieved 96% of asking price, had six million page views on its website and processed 260,000 tenants applications and collected rent worth £500 million.The company also claims to let a property every minute and sell a property every hour.  July 27, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

No Cold Turkey

first_imgThe Prime Minister of Turkey delivered a speech at St John’s College on ‘Why the European Union Needs Turkey’, last Friday. Recep Tayyip Erdogan, who has been premier since March 2003, arrived twenty minutes late after being held up in traffic. His speech, which was delivered in Turkish, attracted the attention of the international and national media. European leaders will have to decide in December whether Turkey can begin negotiating for entry into the EU. Erdogan, who seemed eager to present himself as a modern European leader, stressed that Turkey “will try to make ‘European values’ Ankara’s values.” The PM acknowledged that Turkey still had pressing economic and human rights issues to confront. The problems surrounding the Kurdish minority and the presence of Turkish troops in Cyprus also remain unaddressed despite EU instructions to resolve them. Erdogan’s speech was organised by the South East European Studies Centre based at St Anthony’s College, and was preceded by a conference on “The Continued Rapprochement Between Greece and Turkey: Still Genuine?”ARCHIVE: 5th week TT 2004last_img read more

Hoorah a d hyperboled at the Oxford Union

first_imgThe recent speculation and hyperbole surrounding the vulnerability of British democracy following the ever-so dangerous attack of a flour-filled condom found its parallel when 140 Union hacks assembled on Sunday, appropriately at the invitation of the President, to debate why they would rather be ‘pretty than witty’. The IRA really should have been told. “University politics are so vicious precisely because the stakes are so small”, as some Yankee villain once said, and student venom never can be so full of bile as a literal mass debate in the attempt to qualify for Union election. The first to step forward is Tobi Rufus, who continues in his vocal impression of a twelve-year-old girl by imploring the House to “Consider David Beckham”. Indeed it is extremely difficult to consider Mr Beckham when one is looking at Rufus, but at least he brings a degree of coherency. Much unlike the string of pretty young blondes who followed his massive presence – pretty, but certainly without wit. ‘Um, yah…um, yah…um, yah…’ they twittered away for the necessary two minutes. “Rah…rah…rah,’ shouted their old school chums in encouragement, as if speaking for a couple of minutes was some sort of challenge. Not that anyone was there to listen to these double-barreled bits of fluff. Feeding time at the zoo descended into complete farce as the anti-Rah opposition poked at legislative loopholes to stop one presidential candidate’s friends from qualifying in time. ‘Hoorah’ and ‘Hear, hear’, they jeered and booed, with occasional neighing to those pashminas and up-turned collars opposite, once assured that they could bring this spectacle to an end. The Commons has nothing to offer this comic pandemonium as young Tories aspirant for safe Conservative seats practice the waving of paper and artificial heckling. Events may not have been pretty, Union hacks are far from witty, but with many of these hacks destined for those green leather seats in Westminster the school boy antics in Parliament look secured for one more generation at least.ARCHIVE: 5th week TT 2004last_img read more

80-year-old infiltrates gardens

first_imgAn 80-year-old banned for life from Oxford Botanic Garden defied officials by sneaking into the gardens in disguise.Michael Hugh-Jones, a regular visitor to the gardens for 58 years, was banned two years ago after an angry outburst against staff in front of visiting schoolchildren. The incident was prompted by Hugh-Jones accused them of neglecting a Morning Glory flower.He this week attempted to sneak into the gardens disguised as a guest at the Lord Mayor’s picnic, desperate to find out what had happened to the plant. His quest ended in tragedy, however, when he discovered that the plant had already been removed by staff.last_img read more

Online Pet Food Delivery Soars in Popularity in 2020- What Trends to Expect in…

first_imgSince the beginning of the COVID-19 health crisis, industries have worked hard to shift their processes to maintain safety for staff and customers. The pet food industry is no exception, with e-commerce standing out as a successful tool to create growth in the space despite the virus. Freshpet acknowledges that some people are unsure of the reasoning behind the increased popularity of online pet food delivery and, here, Freshpet reviews information to clarify recent changes in the space.Why Has Pet Food Delivery Grown in Popularity in 2020?The pandemic had a large impact on many of our schedules, with many of us staying home more often to avoid transmitting the virus. This behavior created the perfect environment for pet food ecommerce to grow as people moved towards online platforms to get a hold of essential items. Freshpet and other experts in the pet food space recognize that several factors have continued to play a role in pet food delivery’s popularity.Pet Food Delivery Keeps Customers SafeOne of the largest reasons for the ongoing success of online pet food delivery services is the safety it allows customers. As cases surge once more in areas across the country, customers have picked up online shopping to avoid crowds and reduce the risk of spreading the virus. It may not be possible to always avoid stopping at a store in-person, but shoppers are realizing that limiting or consolidating our trips out has a positive impact on the safety of ourselves and others.Creates a Convenient Way to Purchase ProductsSince the onset of COVID-19 in 2020, customers have valued convenient ways to get their essentials. Ordering pet food online is convenient for consumers because it can easily be done from our phones and computers. For those of us that are accustomed to visiting stores in-person, online shopping can free up time as there are less distractions.Provides Space to ResearchPet parents always want to ensure that they are giving their pets the best food possible. Shopping for pet food online provides the opportunity to make a more informed decision on our purchases. With access to the feedback and reviews of other customers, we can evaluate old favorites or new products and compare them to others. This is a contrast to purchasing pet food in stores, where we may need to make a spur of the moment decision on what to buy if our preferred brand is sold out.Pet Food Trends Expected to Continue in 2021Naturally, consumer behavior has seen shifts as a result of the pandemic, making way for several trends that will continue into 2021. While there are bound to be many changes in the space this year, when Freshpet reviews a number of these trends, there are a few that stand out for the impact they will have on companies moving forward.Popularity of Pet Food Ecommerce Will RiseOne of the most notable changes has been the recent boom in pet food ecommerce as customers looked for ways to fulfill their needs as pet owners without the need for visiting brick-and-mortar stores. E-commerce growth in the pet space is not new, however, the recent growth in online shopping has pushed e-commerce in the pet food category up from 16% of sales to about 23%. According to research from Packaged Facts, e-commerce is expected to continue to grow to cover 34% of the pet food market by 2024. This growth has led to an increase in sales for Freshpet and other pet food companies on the market.Renewed Focus on Healthy OptionsWhile pet owners could easily have used the financial hardships that many families are experiencing as a reason to flock to lower cost brands, experts have found that the pandemic has accelerated interest in premium pet products. Freshpet reviews several potential reasons for this trend. For example, COVID-19 has inspired many pet parents to focus on immune system and general health for both themselves and their furry friends. Specialized diets that address specific health concerns and needs linked to dogs and cats’ needs based on size, age, and breed are also expected to see growth.Growing Interest in SustainabilityAs consumers express more of an interest in the environment, the expectation that pet food companies will choose sustainable practices has continued to grow as well. There are many ways that companies are urged to be more sustainable in their practices. For example, there has been a push for businesses to utilize more sustainable ingredients and to manufacture their product in ways that minimally impact the environment. The emphasis that 2020 placed on social issues and the importance of brands protecting the rights of their employees has led costumers to look into which brands have invested into sustainable practices for their workforce as well.last_img read more

International activity

first_imgFood & Hotel Asia 2008 (FHA2008), an international food event, is set to take place from 22-25 April 2008 at Singapore Expo. This year a Bakery & Pastry 2008 show has been incorporated for the first time to reflect demand from Asia’s growing baking industry.Bakery & Pastry 2008 is set to be visited by industry professionals including ingredients suppliers, packaging, storage and refrigeration equipment suppliers, display and shopfitting equipment and representatives from both plant and craft bakeries, claim organisers, Singapore Exhibition Services.The Asian Pastry Cup, which will also take place at Bakery & Pastry 2008, aims to promote pastry art, giving pastry chefs a chance to meet and share their ideas. Each country is represented by three bakers, which will present a chocolate showpiece, a sugar showpiece, a plated dessert and chocolate cake.There will be also be conferences, seminars, workshops and competitions taking place over the three days.FHA attracted 36,658 trade visitors and 2,327 exhibiting companies in April 2006.Among some of the feedback from FHA2006, managing director of Bakewell Supplies, said: “This show provides an excellent opportunity for us to shop around for baking supplies and equipment. I’m pleased to have a number of business deals in the works.”The 2008 show is the 16th FHA and is expected to attract buyers from all over the world.Food & Hotel Asia (FHA2008) features six specialised events, including Bakery & Pastry 2008.last_img read more

Glacier movement for Star

first_imgEquipment manufacturer Starfrost and parent company Star Refrigeration have joined forces to launch a new range of equipment called Glacier.The line combines a spiral freezer and refrigeration plant in one package.The spiral system is suitable for freezing or chilling items, such as pizza, pastry products, desserts and meat and poultry and fish. Each Glacier package is designed, manufactured and installed to meet individual cooling requirements, with a dual-purpose freeze/chill operation available.Glacier features a range of spiral systems and associated refrigeration packages, with cooling capacities from 75kW to 450kW. Available with a range of belt sizes and tier heights, it can be designed to process from 500kg/hr, to over 6,000kg/hr.”Glacier’s cooling system operates with natural refrigerant ammonia,” explained Star Refrigeration sales and marketing director Rob Lamb. “This results in excellent operating efficiency, with zero environmental impact in terms of ozone depletion and global warming. The spiral unit and refrigeration plant are designed to work in complete unison and offer a cost-effective, energy-efficient and flexible solution.”last_img read more

Beauty inside and out

first_img Gardens, collections gaining wider exposure Related WASHINGTON, D.C. — The rich legacy of Dumbarton Oaks exists as much in its spectacular gardens as in the pages of the rare books kept inside the historic home.The distinct beauty of both settings has provided inspiration and substance for the forthcoming book “The Botany of Empire in the Long Eighteenth Century.” Led by Yota Batsaki, executive director, with co-editors Sarah Burke Cahalan, a librarian formerly at Dumbarton Oaks and now at the University of Dayton, and Anatole Tchikine, assistant director of garden and landscape studies, the project began as an interdisciplinary effort to “stretch the fields of study” at the Harvard research institute, nestled in the Georgetown neighborhood of Washington, D.C.“I came with my own research and teaching in the long 18th century, and I gravitated to the rare book room, which has an 18th-century space and feel,” said Batsaki, who started working at Dumbarton Oaks in 2011. “The library is very rich in garden history and botanical publications, and I thought it deserves to be even better known.”Decades ago, collectors and art patrons Robert Woods Bliss and Mildred Barnes Bliss transformed Dumbarton Oaks from a home into a research library and collection, making it a showcase and study space for their work in Byzantine, pre-Columbian, and landscape architecture. Gifted to Harvard in 1940, the original Federal-style house was expanded to include a museum (currently undergoing renovation) and rare-book library. Along with other buildings, including a large library, it is set amid 16 acres designed by the famed pioneer of landscape design Beatrix Farrand. The remaining 27 original acres comprise the public Dumbarton Oaks Park.“The Botany of Empire” grew out of a 2013 symposium celebrating the Rare Book Room’s 50th anniversary. Essdras M Suarez/© EMS Photography“The depth of the collection gives you an indication of how intelligent and far-sighted Mrs. Bliss was,” said Linda Lott, Dumbarton’s rare book librarian. “Part of the impetus for the comprehensive collection was that at the end of World War II in Europe, she saw a number of great libraries and their books being broken up for their individual plates. Working with Mrs. Farrand on the design of Dumbarton Oaks garden helped to reinforce and broaden that interest in collecting books, manuscripts, and drawings in the field of garden history, landscape design, botanical illustration, and plant materials.”The rare-book collections reflect the institute’s three major areas of research and teaching: pre-Columbian, Byzantine, and landscape architecture. “The Botany of Empire,” which will be published this fall, grew out of a 2013 symposium celebrating the Rare Book Room’s 50th anniversary, which featured an exhibition of botanical works.‘The depth of the collection gives you an indication of how intelligent and far-sighted Mrs. Bliss was.’ — Linda Lott“One purpose was to bring all three programs together,” said Tchikine. “With ‘The Botany of Empire,’ we could touch on all the various regions — Greece, the Ottoman Empire — that expanded the ideas of imperial botany. It was such a discovery. People knew we had a lot, but no one knew the sheer richness of it.”The magnificence of the botany collection stems from the detailed illustrations that display the deep, varied history of what was one of the world’s most powerful economic, medical, and political industries.“Eighteenth-century botany anticipated what we would now call big science and big business. States and individuals invested heavily in expeditions, and botanical gardens were sites of experimentation. The combination of aesthetics and economics and science — for me, that was the most spellbinding aspect,” said Batsaki. Inside Dumbarton Oaks On a sweltering summer day, Lott pulled out several new acquisitions to show Batsaki and Tchikine in the safety of the climate-controlled library. Among them are an album of Asian fruit watercolors (1798–1810), Giovanni Battista Piranesi’s “Campus Martius antiquae urbis” featuring extraordinary cartography of ancient Rome, and Johann Hieronymus Kniphof’s “Botanica in originali pharmacevtica. Das ist Lebendig,” a rare example of “nature printing.”“This book shows the range of 18th-century methods of visualizing knowledge,” said Batsaki. “Eighteenth-century botanical images are often highly sophisticated renderings based on many acts of observation and transcription, but the 1733 Kniphof is an example of inking and printing directly onto the page from a specific plant. It is one instance of how the rare book library grounded us in the material culture of the period in all its experimentation and variety.”The spectacular gardens of Dumbarton Oaks provided the inspiration for the forthcoming book “The Botany of Empire in the Long Eighteenth Century.” Essdras M Suarez/© EMS PhotographyThe volume expands the understanding of imperial botany beyond Europe and the Atlantic by including empires that did not have overseas colonial possessions, such as the Russian, Ottoman, and Qing, and the Tokugawa shogunate as well as borderline regions like South Africa, Yemen, and New Zealand.“The 18th century is a period that’s fairly well covered, but most others deal with only the British, French, Spanish, and Dutch empires, and they were not the only forces around,” said Tchikine.A chapter on ginseng by Shigehisa Kuriyama, chair of the Department of East Asian Languages and Civilizations and Reischauer Institute Professor of Cultural History at Harvard, showed how a Jesuit account of Chinese ginseng published in Paris and read by a missionary in Quebec led to the unlikely discovery of the plant in North America.“Shigehisa brought a different tenor to the discussion, pushing us to think more theoretically,” said Batsaki. “He started with China and Japan on one hand, and Canada on the other, and brought home the serendipitous power of text and image on scientific discovery. Dumbarton Oaks has great interest in strengthening connections to the history of science. It’s new territory, and something to work on more.”Matching the breadth of research were the enchanting discoveries among the rare books — newly found works and beautifully preserved ones.“Linda would bring out these great prints and maps, and our research interns love getting their hands on these publications,” said Batsaki, who expects the copious illustrations to find interest with even amateur botany fans. “We’ve already had inquiries from garden clubs that have heard about the book, and we’re delighted to have a larger audience. People who enjoy garden history will love finding out more about the global travel of plants that are now familiar but were once rare objects of scientific and economic desire.”last_img read more

Putzin’ in P.A.

first_imgThe term “to putz” isn’t really in any dictionary.You know what it means though, putzin’ arahn (around, in yinzer). Dilly-dallying. Dawdling. Lingering. Hem and hawing. Moseying.My last day in Pennsyltucky, I was putzin’ hard. I was not ready to leave.IMG_5890My rig felt in good company all week.My rig felt in good company all week.In the week and a half or so that I had been staying outside of Ohiopyle, I’d managed to keep pretty busy. I knocked off three runs on the Upper Yough, a few solo laps on the Lower Yough loop, a little yoga here, a little hiking there, even a little wake surfing up in the ‘burgh. I’ve never spent much time exploring Pennsylvania, but the few times I’ve visited its southwestern corner in particular, I’ve become more and more enchanted with the Keystone State.So as I sat on the steps in front of Falls Market on my last day in tahn (town), shoving mint chocolate chip ice cream in my face and eyeballing the various trucks and cars that idled by with teetering stacks of kayaks strapped to the roofs, I felt for the first time in a long time very much unhurried. I was in no particular rush to move on to the next destination, and the thought of posting up in a town for longer than a couple weeks actually appealed to me (sorta).DCIM100GOPRODCIM101GOPRODCIM101GOPRONormally, I’m pretty restless. I’m always itching to be on the move.But the pace of life in that corner of Pennsylvania is much slower, though just an hour’s drive from the hustle and bustle of Pittsburgh. After a particularly busy week at work, I found myself really starting to appreciate that quiet. Countryside dominates much of the landscape. Sprawling farms and state park land interwoven with winding backcountry roads connect one-traffic-light-towns. Everything here is charming, down to the last hahs (house), post office, and four-wheelin’-local.IMG_6187 IMG_5928 IMG_6252The more I travel, the more I find that these one-traffic-light-towns are the places I connect with best. Having grown up as part of a small community, being welcomed into these tight-knit towns gives me a sense of ‘home’ despite my transience. It’s the people I’ve met these past few months that have had the biggest impact on me. Strangers, old friends and new, the cashier at the local convenience store. It’s been humbling to see how much the people have really defined this “on the road” experience. Everyday there is someone new who crosses my path and inspires me, or teaches me something new, or redefines my ideas on generosity and selflessness. Everyday, someone somewhere is looking out for me in some way and I feel incredibly fortunate to know so many good people.Sunrise on Laurel Mountain.Sunrise on Laurel Mountain.Ben Crandell cruisin' at dawn.Ben Crandell cruisin’ at dawn.IMG_5618When I think back to some of these great people though, I wonder how many of them I’ll see again. Of the typical challenges I encounter daily with the logistical reality of living out of a vehicle, I’d say none of those compare with the difficulty I have in accepting that sometimes, people aren’t meant to stay a part of your life forever. A stranger at a restaurant can tell you the most profound and sound bit of advice, and you may never even learn his name. One lady’s story may change your life ambitions, but she may never know that.How do you begin to cope with that disconnect? How do you come to terms with these fleeting encounters, with letting people come in and out of your life like a receding tide? How do you begin to ever express the ineffable gratitude that can come from both a simple gesture and a weeklong stay alike? How?I was thinking about all of this as I putzed around that last day in Pennsylvania.“Why don’t you watch a movie?” my friend Jess said. He and his lovely wife Theresa had opened up their cabin to me the week I was in town (thank you thank you) and were on their way out the door that last day. Perhaps sensing my putzin’ mode, they told me I should take a nap, twiddle my thumbs, do nothing, watch a movie.A movie? Of all the things I had done in the past few months, watching a movie was not one of them. But since I was in no rush to leave, I figured, why not? I picked the first DVD (no, those aren’t outdated…yet) my eyes came to, which just so happened to be Eat, Pray, Love, and, after nearly a half hour of trying to work the damn TV (am I really that uncivilized already?), I finally settled in and propped my feet up.Aside from remembering just how much I love Julia Roberts as an actress, one of the things I couldn’t stop thinking about was Elizabeth Gilbert’s book Eat, Pray, Love from which the movie was made. I read the book when it came out in 2006. I was still in high school, but I remember how much her words spoke to me then. I connected with her story, sensing my restlessness may one day lead me down a similar path.I whipped out my laptop and started browsing through some of the quotes from Gilbert’s book, curious as to what I had connected with so well. I scanned her words on God and love, happiness and suffering. Soon I found myself re-reading whole pages.It wasn’t long before I stumbled across a section she wrote on people. Her words, written over a decade ago, seemed, quite literally, to have sprung from my questions on giving thanks and processing kindness, like Gilbert herself was watching me putz and ponder.“In the end, though, maybe we must all give up trying to pay back the people in this world who sustain our lives. In the end, maybe it’s wiser to surrender before the miraculous scope of human generosity and to just keep saying thank you, forever and sincerely, for as long as we have voices.” Some people buy gifts, give money, send cards as tokens of gratitude. Others simply say ‘thanks.’ I fall somewhere in between, always expressing my appreciation in words but somehow feeling as if that alone is not enough yet anything but is insincere.I got to thinking, perhaps Gilbert is right. Perhaps all of this, all of us, are connected. It seems nearly impossible to genuinely thank every single person who has ever had a positive influence on my life. But perhaps one day, I will be the one to contribute to that “miraculous scope of human generosity” by providing a couch to crash on, a kitchen to cook in. Perhaps one day I will be able to return two-fold the kindness I’ve experienced in my journey and become a part of the good people continuum.So to Jess, who pushed me to step up in kayaking, to Theresa, who reminded me how good it feels to let loose and dance, to Crandell who rallyed at 3 a.m. for some Zoolander-sunrise action and taught me more things than I’ll ever remember about our solar system, to Dr. Mitchell, who’s stoke for kayaking was nothing short of entertaining (and contagious), and to Clark, Jay, and all the other super people I met in P.A. – thank you.IMG_4948IMG_4987IMG_5035last_img read more

Piping Hot: North Carolina hikers begin 180-mile trek along pipeline route

first_imgConcerned citizens in North Carolina are currently hiking 180 miles along the proposed Atlantic Coast Pipeline route from Whitakers, North Carolina, on the Virginia border, to Pembroke, North Carolina.The anti-pipeline hike is attracting everyone from senior citizens to college students on spring break. The hikers hope the protest will inspire others to take a stand against the building of the pipeline, which will cross the Appalachian Trail and other cherished public lands, threaten drinking water, and pollute the surrounding environments.They are also concerned about the use of eminent domain to seize rights-of-way through private lands and the Federal Energy Regulatory Commission’s (FERC) lax approval process. Activists say that the environmental assessment issued in late December is missing crucial information, such as an inaccurate description of the pipeline’s environmental impact and violates federal law.Several groups have filed a legal motion requesting for the environmental impact assessment to be updated or replaced. Read more here and follow the progress of the march here.last_img read more