Spicerhaart: Hiring more staff helped raise turnover and profits
The group which includes Haart claims investment in its training academy and new recruits have driven the growth.
Spicerhaart has reported group turnover up by 8% from £126 million to £136.1 million and an increase in profits for past year.
The company, which includes several leading high street brands including Haart, says the performance has been driven partly by improved market conditions, but also reflects strategic investments.
Rising costs
It points to the launch of the Spicerhaart training academy and an 8.3% increase in year-end headcount to support long-term growth.
As a result, the group has delivered a £4.6 million growth in profits, despite rising costs associated with the additional investments. It reported its most profitable month in its history in March.
Spicerhaart reports pipelines of £33.8 million last year, increased to around £39.7 million.
Uplift
Estate agency turnover increased by 5%, supported by falling interest rates and greater economic stability, it says.
Meanwhile, residential lettings saw an 8% uplift in turnover, driven by rising rental prices and expanded ancillary services.
Financial services delivered a standout performance, with a 10% increase in combined turnover. Notable growth came from new homes brokers (up 16%) and the B2B network of self-employed advisers (up 11%), while branch networks increased by 8%.
Strong relationships
Corporate sales turnover rose by 14%, supported by strong B2B relationships in repossessions and part exchanges.
Surveying income grew by 17%, broadly in line with a 21% increase in mortgage approvals (Bank of England figures).
2024 was a year of progress, investment and growth.”
Paul Smith, Founder and Chairman at Spicerhaart, says: “2024 was a year of progress, investment and growth. Our teams have delivered exceptional results across the board, and we’re excited about the opportunities ahead.
“With an incredibly strong pipeline and improving market conditions, backed by a multi-million pound increase in marketing expenditure, we’re well positioned to acquire more businesses and accelerate growth in 2025 and beyond.”
