CEO Ash Kashyap says the London agency's revenue and profits were up last year with a record performance reported for the sales division.
2nd Mar 20260 734 2 minutes read David Callaghan
Dexters is reporting an 11% increase in revenue and a 10% rise in profits, in its latest full-year accounts.
The independent estate agent and chartered surveyor, based in London, said revenue was up to £247 million last year (2024: £222m) with underlying operating profit of £52 million (2024: £47m).
Potential saleThere were rumours earlier this year that the majority owner of Dexters, Oakley Capital, was exploring a potential sale that could value the agency group at more than £500 million.
The company says the results were “driven by investment in colleague development and new office openings, resulting in high performance and strong sales and lettings activity across the capital”.
AcquisitionsDexters highlights that of the 11% revenue growth, 9% was organic, the balance through acquisitions, including Keatons in east London. The business maintained its 21% profit margin, mirroring the same strong performance as the previous year.
Turnover from lettings increased by 9% to £161 million, accounting for 65% of total income (2024: £148m).
Residential sales revenue increased by 17% to £80 million (2024: £68m), a record performance for the sales division; and other income accounting for £6 million (2024: £6m).
Fastest growingContinued development has enabled Dexters to open new offices during the 2024-25 financial year in locations including Canada Water, Greenwich, Kennington, Queens Park and Surbiton.
Dexters says it is the fastest-growing estate agency business in London. The group now operates 176 offices across the capital.
Double reveuneAlongside the results, it said the ambition was to double its revenue over the next five years, with six new offices in the pipeline over the current financial year, and further acquisitions.
Ash Kashyap, CEO at Dexters (pictured), says: “In the face of a challenging macro environment, Dexters has once again continued to perform and thrive due to our investing in London’s local high streets, expansion of our unrivalled office network and commitment to career development with a focus on customer service.
“This has resulted in continued success and provided colleagues with unrivalled opportunities for promotion and career development.”
Significant opportunities“Our organic growth in prime central London sales and lettings for the 2024-25 financial year was 11%. We have maintained our strong market presence in north and west London with significant opportunities for further expansion within the M25.
“Whilst Dexters is predominantly focused on local markets, we are becoming a globally recognised brand with significant enquiries coming to our corporate and international relocation specialist team.”
Kashyap was promoted to CEO in April last year after serving as Chief Financial Officer, a position he held for over a decade.
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