Revenue And Profits Up, Dexters Doing It Right

London estate agency Dexters has reported a rise in both revenue and profits for its last financial year – in contrast to the disappointing results posted by some other agents in the capital.

Dexters says that its revenue rose to £87m in the year to last September, a 16% rise from the previous year’s £75m, while profits rose to £6.3m up from £4.8m the year before. The firm says that £50m of revenue was generated by lettings, up from £44m the year before.

Jeff Doble, founder, commented: “We’re surprisingly busy. There’s a lot of first time buyers and a lot of investors still buying in London. But predominantly what we’re seeing is people with growing families that are moving in or out of London that are doing things in life and can’t put things on hold.”

Dexters’ results illustrate that, no matter what the London property market is doing there is money to be made from providing the right service in the right way. It is bound to some wonder if, when other agents blame ‘market conditions’ for their poor performance  – for example Foxtons posted a pre-tax loss of £17m for 2018 – it is really an excuse for their own shortcomings.

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Source Telegraph
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