‘Fundamentally transformed’ Foxtons sees revenue climb 5% despite slump in sales income

London estate agency reports rental revenue growth as it continues drive to 'decouple earnings from sales market volatility'.

"I am encouraged by the early results achieved to date," says Foxtons boss Guy Gittins, as "operational improvements" bear fruit.

"Property prices have held up reasonably well but transactions have slowed, leading to a high number of agreed sales being delayed to the second half of the year," says leading estate agency.