“The upturn we were expecting during the second half of this year is now unlikely to materialise.” Foxtons starts the post-referendum week with a profit warning.

As a result, the challenging conditions we referred to in our April 2016 trading update, which have impacted recent property sales volumes, are now likely to continue for at least the remainder of the year. We therefore expect full year 2016 Group revenues and Adjusted EBITDA¹ to be significantly lower than prior year.

[via Property Industry Eye]