Foxtons has posted an 8.2% rise in pretax profit to £42.1m despite a reduction in sales volumes in 2014.
Sales volumes at the agency fell by 3.7% as the residential sales market declined in the second half of 2014, according to the company’s annual report.
Lettings, 47% of Foxtons business, rose by 1.7% in 2014 compared with 2013.
Foxtons increased its mortgage broking business by 23.4%, which helped drive up group revenue by more than 3% to £143.9m.
In 2014 the agent opened seven new branches, taking the total to 51. The company said it plans to open another seven in 2015.
Dividends of 5.16p per share are proposed, of which 1.99p is a special dividend.
