In what CEO Gareth Samples (pictured) describes as ‘a transformative year’,  TPFG has merged with Belvoir and acquired GPEA (The Guild and Fine & Country) and has seen a substantial rise in revenue.

TPFG says the moves have added ‘material scale and market reach’ for its franchise business, significantly strengthening its financial services division and creating a new licensing revenue stream.

The Group is now segmented into three distinct business divisions: Franchising, Financial Services and Licensing and it is reporting good progress in integrating the two new businesses.

Franchising

As a result of the Belvoir merger, the Group’s franchising division now operates across 15 brands, managing a combined 153,000 rental properties and achieving over 30,000 sales during 2024, which, TPFG claims, makes it the biggest property franchise business in the UK.

Lettings MSF grew by 93% in 2024 to £19.0m with the merger with Belvoir contributing significantly. Sales MSF grew by 48% to £9.3m.

Ewemove, the Group’s market disruptor brand, continues to grow, selling 39 new territories in 2024, up from 31 in 2023, and total revenue increased by 17%.

Financial services

The Belvoir merger also transformed the Group’s financial services offering, with the addition of Brook Financial. Over the last 12 months, the division delivered over 23,000 mortgages at a value of over £4bn.

Financial Services income in 2024 totalled £19.2m, with a strong H2 performance as a result of decreases in the base rate as well as improved productivity from advisers.

Licensing

GPEA’s acquisition has added a new licensing division and, since June, total revenue has been £7.2m.

And, over the same period, Fine and Country has added 17 new UK licensees as well as three new international offices in Barbados, Ireland and Dubai.

Outlook

This year, TPFG says its focus will be on integrating Belvoir and GPEA and unlocking the additional income opportunities resulting from the scale of the combined Group.

It is expecting its lettings business to continue to grow in 2025, with the upcoming Renters Reform Bill providing an opportunity to convert more landlords to the managed property model.

It is already reporting strong demand in January in its financial services business and a strong sales pipeline, which has increased by 71% to £39.4m (2023: £23.1m).

Overall, TPFG  believes the strength of the Group’s franchise model and diversified revenue streams will shelter it from any market cyclicality and expects further growth across the divisions in FY 2025.

Chief Executive Officer, Gareth Samples, commented: “I am immensely proud of what the Group achieved in 2024, with the delivery of two major acquisitions, now integrated into the Group, as well as strong organic growth.

“Our success has culminated in yet another record-breaking financial performance which has redefined the scale of our business and set us up for ongoing success”.