The Property Franchise Group doubles profits in ‘truly transformational year’
The Property Franchise Group (TPFG) doubled profits in a year dominated by its merger with Belvoir and acquisition of GPEA.
The deals resulted in the Bournemouth-headquartered group having nearly 2,000 branches operating under 18 brands including Fine & Country, Hunters, and Mr and Mrs Clarke. It also manages more than 150,000 rental properties.
TPFG chief executive Gareth Samples said it had been “a truly transformational year” for the group, which is now split into three business divisions of franchising, financial services and licensing.
Adjusted pre-tax profits were up 99% to £22.3m, with group revenues jumping 146% to £67.3m.
Samples said: “The period under review has seen us successfully deliver two substantial acquisitions and make headway in realising the resultant synergies whilst concurrently delivering strong organic growth and executing against our strategy.
“The Property Franchise Group has a track record of growth and now, with our increased scale and capability, we are a significantly stronger business, able to offer even greater value and growth potential.”
His key focus for this year is “completing the full integration of the newly acquired businesses” and delivering on the benefits of being a larger group.
Samples also sees opportunities for its lettings and sales businesses in the wake of incoming legislation, with more landlords expected to convert to its managed property model.
