TPFG
-
Latest property news
Rising revenues at EweMove help TPFG boost profits by 29% this year
While many large estate agency firms are licking their wounds as the property market softens, Martin & Co parent company The Property Franchise Group (TPFG) has today released an extraordinarily upbeat set of figures including profits up by 29% to £2.3 million. This includes increased market share for the company’s hybrid agency EweMove which now has 114 territory franchisee holders, is the 5th largest in its sector and unlike many competitors is trading profitably. Ewemove’s franchisee income increase to £920,000 from £500,000 last year although the hybrid has been struggling to recruit new franchisees so far this year, signing up 12 compared to 18 during the first six months of 2017. Hybrid agency Figures from the hybrid agency also suggest why; experienced estate agents pay £2,000 to join while non-industry applicants are charge £20,000. EweMove has recruited fewer of the former so far this year. At TPFG, all the dials have been rising including both revenue and service fees from its franchisees, operating margin, profits, number of franchisees and lettings book. This includes turnover up by 17% to £5.5 million, franchisee royalties by 15% and the number of rental properties managed by 6% to 53,000. TPFG operates six property brands…
Read More » -
Latest property news
TPFG kicks off huge property portfolio land grab
The Property Franchise Group is acquired 3,000 properties via 16 property portfolio acquisitions it helped franchisees complete so far this year.
Read More » -
Latest property news
Belvoir reveals £200k legal bill for failed TPFG merger bid
Despite the knock-back, the franchising giant says its group profits before tax for 2017 were up by a staggering 62%.
Read More » -
Latest property news
£250m pumped into online estate agents so far by investors, claims TPFG
Extraordinary claim is made by parent company of Martin & Co and Ewemove in its upbeat annual results for 2017.
Read More » -
Latest property news
Senior industry figure Nick Leeming steps down from Belvoir board
Senior industry figure Nick Leeming has stepped down from his position as a non-executive director at franchised lettings giant Belvoir after five years on the company’s board. Nick has helped steer Belvoir through a turbulent five-year period since it floated on the AIM stock market, raising £7 million to fund an aggressive expansion programme and, last year, an attempt to merge with The Property Franchise Group (TPFG), parent company of Martin & Co. He joined the Belvoir board after stepping down from a senior role at portal Zoopla. As well as his work for Belvoir, Nick has been Chairman of Jackson-Stops since 2013 and been a regular judge for The Negotiator’s industry awards. Nick, who says he is retiring from his position at Belvoir, will step down on 10th April and be replaced by another industry stalwart, Michael Stoop (pictured, left). Michael has an equally gold-plated and long-standing career within the industry having helped establish Belvoir’s franchising rivals Winkworth and TPFG, and in July last year returning to Winkworth in an advisory role. “On behalf of the Board, I would like to thank Nick for his considerable contribution since the Group floated on AIM,” says Michael Goddard, Chairman of Belvoir.…
Read More » -
Latest property news
What went wrong? Belvoir reveals merger with TPFG DID have green light
Belvoir has responded to the brush-off delivered by The Property Franchise Group (TPFG) on 19th October which said the merger of the two businesses “would not be in the best interests” of TPFG. TPFG owns franchised lettings giant Martin & Co and online agency EweMove as well as CJ Hole, Ellis & Co, Parkers and Whitegates with a combined branch count of almost 300 and 50,000 tenanted properties. The board of directors at Belvoir says it is “disappointed” by the response and that the merger offer made by Belvoir was not an unsolicited one. Also, reading in between the lines of the statement, TPFG appears to have led Belvoir to believe the merger offer would be well received. Belvoir merger with TPFG Belvoir says there was previously a “willingness to engage in discussions expressed to the Board on more than one occasion by TPFG”. The company says its merger offer was structured to reflect these discussions, which included issuing 0.7150 new shares per TPFG share and 52.2p in cash per TPFG share, but says the cash element of the offer could be reduced and the number of shares increased to reduce the cost of the merger. Belvoir also says it…
Read More »
