Foxtons chief’s £200k bonus

THE boss of estate agent Foxtons was handed a bonus of more than £200,000 last year despite a fall in revenues, profits and share price.

Nic Budden, 50, earned £914,000 in 2017 including a £550,000 salary and £218,000 bonus. That was down from £982,000 the previous year.

Foxtons shares fell 20pc in 2017 as revenues sank 11.4pc to £117.6m and profits dived 65.2pc to £6.5m.

Budden, a married father of four who has a degree in economics, joined Foxtons in 2005 and took over as chief executive in 2014.

In the annual report yesterday, Budden warned: ‘We expect trading conditions to remain challenging in 2018 and our current sales pipeline is below where it was this time last year.’ Shares dipped 0.2p to 82.5p, making his 1.3m shares worth just over £1m.