July 30, 2018 / 6:19 AM / 4 months ago

UK estate agent Foxtons posts half-year pre-tax loss

July 30 (Reuters) - London-focused estate agent Foxtons on Monday posted a pre-tax loss in the first-half of the year, hurt by lower sales in the British capital and on more investments.

Foxtons, which was once a symbol of London’s property boom, reported a loss before tax of 2.5 million pounds ($3.28 million) compared with a profit of 3.8 million pounds, a year earlier.

“Looking ahead the outlook is mixed. Whilst our sales pipeline has recovered to a similar level to the same time last year, the sales market remains very subdued with less visibility on exchanges proceeding,” the company said on Monday.

$1 = 0.7627 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Bernard Orr

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