The Acorn Group has today reported a strong trading update for the year ended 31 December 2021, while announcing that Rob Sargent will step into the role of group chairman, to be replaced as CEO by the firm’s current MD, Neil Louth.

The independent estate agency group, which incorporates John Payne, Langford Russell, Start Financial Services and MAP surveying, says that it has delivered a much-improved performance, with revenues across several business segments for the 12-month period well ahead of the prior year and 2019.

The Acorn Group, primarily focussed on the south of England, says it saw an overall increase in its turnover from 2020 of 29.3% and a 2021 EBITDA in excess of £7.5m, generating a margin on gross turnover of just over 21%.

The Acorn Group, which continues to expand its branch network, reports that it has seen improvements across a number of departments in response to growing demand. This includes growth in its land, commercial, new homes, financial services, surveying, estate management, lease extensions and property management divisions.

Despite last year’s success, there appears to be plenty of room for growth at Acorn Group, which this morning announced the imminent opening of its 40th branch in Sevenoaks.

The company plans to expand further this year through a series of strategic acquisitions, headed by main board directors, Paul Deveney and Hector Stavrinidis.

The new acquisition team is primarily targeting estate agency businesses, along with other property firms whose prime income streams are generated from residential sales and other specialist property services.

“2022 promises to be an equally exciting year,” said Sargent, who in 2020 launched the ‘Say No To Righmove’ Campaign.

Reflecting on the change at the top, Louth said, “It’s a natural evolution”, and “one that will create further opportunities for promotion across our business as a whole”.

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