Big London estate agency reveals ‘turnaround year’ before takeover
Kinleigh Folkard and Hayward saw its revenue and profit leap last year after a slump during 2023, and before it was acquired by Lomond Group.
KFH enjoyed a major upturn in revenue and profits before the acquisition by Lomond Group earlier this year, it has emerged.
Newly-released accounts show that after a poor year in 2023, Kinleigh Folkard & Hayward (KFH) turned things around last year with group revenues increasing to £89.5 million from £74 million, and profit before tax leaping to £7.3 million from £753,000.
Adjusted EBITDA also improved to £9.3 million (2023: £4.9 million).
Flagship brand
KFH has become Lomond’s flagship London brand, with 60 branches and a significant stronghold in South London. Lomond has also acquired several smaller agencies which it has rolled under the KFH banner.
In October, Lomond announced the acquisition of Colliers Wood-based Eddisonwhite Ltd. The deal saw the three-branch agency, which also operates in Wimbledon and Morden, folded into KFH.
Eddisonwhite was Lomond’s sixth London purchase this year. In April, it bought boutique Battersea estate agency Hamnett & Ganpot.
Other purchases include Chase Evans, Vantage, and Draker since September 2024, when the first acquisition in the capital was made.
The prospects for the group will be further enhanced through new investment in front line CRM systems.”
And John Ennis, Chief Revenue Officer at Lomond, was upbeat about KFH’s prospects: “Following the acquisition by Lomond on the 31st January 2025, the prospects for the group will be further enhanced through new investment in front line CRM systems, and a strong focus on non-cyclical revenues especially from residential lettings activities.”
