The parent company of national estate agency chain Andrews, has reported profits up £1.9 million last year and a revenue increase of 6% to £21.7 million.

The group, which is operated via charitable trust ownership, includes its 50-branch estate agency as well as both corporate and leasehold property management arms.

It has also said that it is ‘poised for further growth’ and wants to ‘regain its position as a market leaders within the sector’.

Andrews Property Group reports growth across all these activities including sales revenue that surged by 17%, although both lettings and financial services were more modest at 2%. Additionally, the group has successfully reduced its debt burden by nearly two-thirds, from £1.61 million to £582,000.

“The last couple of years have been a defining moment in the history of Andrews Property Group, in particular the last 12 months,” said David Powell, Managing Director (main image).

“Changes in structure, process and new partnerships have been embraced by the group.

“There is a real team camaraderie, with everyone pulling together to ensure the performance of the group sets a solid foundation for the next part of our journey.”

Pursue acquisitions

The management team, which includes Powell but also COO Simon Cheetham and FD Jonathan Poole, continues to “pursue acquisition opportunities while defining their long-term strategy”, the company’s results statement says.

Andrews is unusual within the sector because its profits go to charitable enterprises through a Trust, including affordable housing for vulnerable or homeless young people; support for organisations which have ground-breaking ideas to tackle housing related poverty; and Christian social action projects.

The estate agency’s Group Lettings Director, Angharad Trueman, is currently president of ARLA Propertymark.