The Property Franchise Group has posted record interim results with revenue climbing 50% to £40.3m as strong sales and financial services performance more than offset cautious lettings activity, according to Chief Executive Officer Gareth Samples (pictured).

This has been another record six months for the Group, driven by the successful integration of recent acquisitions and the enduring strength of our franchise model.”

Samples says: “This has been another record six months for the Group, driven by the successful integration of recent acquisitions and the enduring strength of our franchise model. The enlarged Group is delivering both cost and revenue synergies, while generating strong cash flows which support our progressive dividend policy.”

Sales activity boosted by Stamp Duty deadline pressures and falling mortgage rates helped drive franchising revenue up 20% to £21.8m, while financial services jumped 59% to £12.2m. Lettings growth remained modest amid landlord uncertainty over pending rental sector legislation.

adjusted profit before tax up 59%

The UK’s largest multi-brand property franchisor delivered adjusted profit before tax of £14.5m, up 59%, while cash generation surged to £13.2m from £3.7m previously.

Directors increased the interim dividend 17% to 7.0p per share, underpinned by recurring revenues now representing 47% of the total.

The group manages around 150,000 properties across its franchise network and entered the second half with “continued robust trading”, expecting further growth through 2025.

TPFG launched its Privilege programme during the period, designed to enhance lettings propositions for landlords facing regulatory changes.

Financial services arranged 12,800 mortgages compared to 12,000 previously, while licensing revenues rocketed 514% to £6.3m following acquisitions. The licensing division includes 1,035 licensees with Fine & Country expanding to 304 UK outlets.

Investment in AI

Investment in AI technology accelerated during the half, targeting call handling, property management and lead progression systems with launches planned for the second half.

The sales agreed pipeline strengthened to £43.5m from £33.4m, providing momentum despite softer instruction levels and potential budget uncertainty around property taxation.

TPFG operates 18 brands including Belvoir, Hunters, Martin & Co and Whitegates across more than 1,900 outlets nationwide.

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