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Agencies & People

TPFG sees revenues up 18% despite transactions slump in market

Gareth Samples, CEO of industry giant says acquisition of Hunters and Mortgage Genie has kept business on track, although sales of Ewemove territories slowed.

Nigel Lewis

Industry giant The Property Franchise Group (TPFG) has reported increased revenues but a slowdown in the number of franchises being sold at its hybrid operation, Ewemove.

Revenues increased by 18% to £13.2 at its HQ including a minor increase in royalties from its franchised estate agency owners to £7.4 million.

The rest of the revenue uplift comes from its recent acquisitions of both Hunters and Mortgage Genie.

Although TPFG says its hybrid offerings via its Hunters Personal and Ewemove brands are ‘doing well’ its latest trading figures show the number of Ewemove territories being sold slowing down – from 37 during the first six months of 2021 to 19 during the same period this year. Hunters have sold five of its Personal territories, taking the grand total to 24.

Sales agreed

Despite the growing economic clouds in recent months, TPFG is fairing well with a 15% year-on-year increase within its sales agreed pipeline to £33.8 million despite the UK market seeing a seasonally-adjusted transaction slump of 28% so far this year.

“We are very pleased with the numbers announced today, particularly given the increasingly uncertain macro backdrop,” says its Chief Executive Officer, Gareth Samples (main pictured)

“Our performance demonstrates the many advantages of operating a focused franchise model, which has a multitude of income streams, franchise brands and ways of meeting consumers’ requirements.

“Our team works tirelessly to help our franchisees navigate challenges and explore growth opportunities. As such, the Board are confident that trading remains in line with market expectations for the full year.”

August 4, 2022

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