Industry franchise giant TPFG, which operates multiple brands including Hunters, Ewemove and Martin & Co, has revealed revenue in the first six months increased 18% to £13.1 million.

Profit before tax is up 9% to £3.8 million and management service fees increased 5% to £7.5m, the UK’s largest property franchisor announced in its interim results for the period ended 30 June 2022.

The group also said its adjusted EBITDA increased 8% to £5.7m, a good performance given the Bank of England warned recently that the UK will enter a recession this year.

Gareth Samples (main picture), CEO of The Property Franchise Group, said, “We are extremely well-placed in the current environment and have a substantial growth opportunity to capitalise on.”

“The Board expects the full year results to be in-line with market expectations and this confidence is reflected in the interim dividend for 2022, which I am pleased to report is up 11% on 2021.”

Second largest

The company revealed in February that it was the second largest high street estate agency in the UK after Connells/Countrywide, operating 597 branches, helped by its fast-growing hybrid operation Ewemove and the purchase of Hunters.

Last month, TPFG reported increased revenues, but a slowdown in the number of franchises being sold at Ewemove.

The group also revealed bumper results for 2021 including group revenue up by 119%.