The Property Franchise Group doubled group revenue and increased profit by 15% in the first six months of the year.

The group, which is calling itself the UK’s largest multi-brand property franchisor, merged with Belvoir in March, and has seen its results improve significantly since then.

Revenue doubles

Group revenue more than doubled, increasing 104% to £26.9 million in H1, as the property market picked up.

Profit before tax increased by 15% to £4.8 million, and the underlying profits by 71% to £9.1 million.

The group, which also acquired The Guild’s parent company GPEA in May this year, enjoyed its highest ever sales agreed pipeline of £47.5 million after jumping 67%.

It now has 1,900 franchisees/licensees in the UK. Headquartered in Bournemouth, the company was listed on the London Stock Exchange in 2013.

Exciting period

Gareth Samples, CEO at TPFG (main picture), says: “I am delighted to be reporting record results following an exciting and transformational period where revenue doubled through the merger with Belvoir.

“We have continued to benefit from the strong demand in the lettings market and to achieve growth in sales and financial services despite sales completions being slower than anticipated at a national level which is testament to the excellence across the group.”

While it used to be best known for owning national chain Martin & Co alongside several regional ones, through acquisitions it has picked up Hunters, Northwood and Ewemove, as well as Belvoir and The Guild.

The group also announced Ben Dodds is to succeed David Raggett as CFO on 1 January next year. Dodds, who was previously CFO at Lotus Car, will join the company on 1 October as CFO designate.