The Property Franchise Group (TPFG) has announced that it will be unveiling its full year results for the 12 months ended 31 December 2023 at 7am on Tuesday 23rd April 2024.

A presentation for analysts will be held online from 10am that day. Those wishing to join the presentation can register via propertyfranchise@almastrategic.com.   

TPFG, which recently merged with Belvoir in a bid to establish a stronger estate agency brand, achieved a strong financial performance in FY22 through organic growth in lettings and the full impact of the acquisition of Hunters in March 2021.

Last year’s financial highlights: 

+ Group revenue increased 13% to £27.2m (2021: £24.0m)

+ 8% like for like increase on 2021 to £14.9m

+ Management Service Fees (“royalties”) increased 8% to £15.9m (2021: £14.7m)

+ 5% like for like increase on 2021 to £11.8m

+ Adjusted EBITDA³ increased 14% to £11.8m (2021: £10.4m)

+ 13% like for like increase on 2021 to £7.7m

+ Adjusted operating margin⁴ of 41% (2021: 40%)

+ Profit before tax increased 38% to £8.8m (2021: £6.4m)

+ Adjusted diluted earnings per share increased 6% to 28.4p (2021: 26.9p)

+  Group generated £8.2m of free cash flow in FY22 enabling the repayment of the £7.5m term loan

+ Net cash of £1.7m on 31 December 2022 (2021: net debt £2.7m)

+ Dividends paid and declared for FY22 of 13.0p (FY21: 11.6p)

 Last year’s operational highlights: 

+ Managed portfolio up 2% to 76,000 (2021: 74,000)

+ EweMove sold 44 new territories (2021: 58); total number of territories under contract 189

+ Sales agreed pipeline remained strong at £22.2m at 31 December 2022 (2021: £26.5m)

+ The number of assisted acquisitions by franchisees increased 75% to 19 (2021: 11) adding £2.1m to annualised network revenue (2021: £1.4m) and 1,890 (2021: 1,270) tenanted managed properties

+ The largest acquisition to date, Hunters, was fully integrated and the synergies achieved

+ Installation of up-to-date CRM systems in Hunters and EweMove with Martin & Co next