Industry giant reports 50% revenue jump following acquisitions
The Property Franchise Group reveals revenue of more than £40 million in the first six months of the year.
TPFG (The Property Franchise Group) saw its total revenue leap 50% in H1 as acquisitions Belvoir and GPEA added to the franchise giant’s income.
The group, which says it’s the UK’s ‘largest multi-brand property franchisor’, revealed its trading update for the first six months of the year.
And its revenue increased 50% to £40.3 million (H1 2024: £26.9m), an 8% increase on a like-for-like basis.
Other financial highlights include:
- Franchising revenue increased by 22% to £21.8m (H1 2024: £17.9m)
- Lettings MSF (Management Service Fees) like-for-like increased 5% to £5.4m (H1 2024: £5.2m)
- Sales MSF like-for-like increased 18% to £3.7m (H1 2024: £3.2m)
- Financial services revenue increased 54% to £12.2m (H1 2024: £7.9m)
- Licensing revenue increased 514% to £6.3m (H1 2024: £1.0m)
Focus this year
TPFG says its focus this year will be on integrating Belvoir, and The Guild and Fine & Country’s parent company, GPEA, and maximising the extra income opportunities.
It recently announced big shareholding incentives for its top executives including CEO Gareth Samples
New CFO Ben Dodds and fellow director Michelle Brook, who is executive director of Belvoir, will also benefit if the firm hits its financial targets.
Strong performance
Samples says: “I am delighted that the Group has continued to deliver a strong performance across all three divisions in the first half.
“With the significant growth and step change achieved in FY24, post acquisitions, we continue to deliver the anticipated synergies whilst leveraging our enhanced scale and capabilities to deliver greater value to our franchisees and members,” he says.
“Our resilient franchise business model, diversified revenue streams and continued strong cash generation provide the Board with confidence for the year ahead.”
