Rolling coverage of the latest economic and financial news
The best way to look at government national debt is to compare it to the size of the economy – and here the picture is encouraging.
The £132bn which the UK borrowed in the financial year ending in March (see opening post) works out at 4.3% of gross domestic product (GDP).
The conflict in the Middle East will impact both our customers and our business. The duration and extent of these impacts is very uncertain and this is reflected in our profit guidance, where we currently expect to deliver Total underlying operating profit of between £975 million and £1,075 million. We continue to expect to deliver Retail free cash flow of more than £500 million.
“The Sales market remains subdued and has been further affected by recent events in the Middle East, which have tempered buyer sentiment and impacted mortgage rates and availability. As ever, Foxtons is focused on what we can control by managing costs, increasing efficiencies and repositioning our Sales business to mitigate the impact of the market.
In light of the uncertainty arising from the conflict in the Middle East, the Group is taking a more cautious outlook reflecting the impact on passenger numbers and weaker consumer confidence. At this stage, the Group expects to deliver FY26 Headline Group profit before tax and non-underlying items of £90m – £105m.
Continue reading…Rolling coverage of the latest economic and financial newsThe best way to look at government national debt is to compare it to the size of the economy – and here the picture is encouraging.The £132bn which the UK borrowed in the financial year ending in March (see opening post) works out at 4.3% of gross domestic product (GDP).The conflict in the Middle East will impact both our customers and our business. The duration and extent of these impacts is very uncertain and this is reflected in our profit guidance, where we currently expect to deliver Total underlying operating profit of between £975 million and £1,075 million. We continue to expect to deliver Retail free cash flow of more than £500 million.“The Sales market remains subdued and has been further affected by recent events in the Middle East, which have tempered buyer sentiment and impacted mortgage rates and availability. As ever, Foxtons is focused on what we can control by managing costs, increasing efficiencies and repositioning our Sales business to mitigate the impact of the market.In light of the uncertainty arising from the conflict in the Middle East, the Group is taking a more cautious outlook reflecting the impact on passenger numbers and weaker consumer confidence. At this stage, the Group expects to deliver FY26 Headline Group profit before tax and non-underlying items of £90m – £105m. Continue reading…
