The Jeuns

“Property Franchise Group releases half year trading update”

April 23, 2024 | by The Jeuns

The Property Franchise Group (TPFG) is set to release its full year results for the 12 months ending on December 31, 2023, today at 7am. An online presentation for analysts will follow at 10am. Those interested in joining the presentation can register via email at

Following its merger with Belvoir, TPFG saw a strong financial performance in FY22, driven by organic growth in lettings and the impact of acquiring Hunters in March 2021. Some of the financial highlights from last year include:

– Group revenue increased by 13% to £27.2 million
– Management Service Fees (“royalties”) rose by 8% to £15.9 million
– Adjusted EBITDA increased by 14% to £11.8 million
– Profit before tax saw a 38% increase to £8.8 million

Operational highlights from the previous year include:

– Managed portfolio grew by 2% to 76,000
– EweMove sold 44 new territories
– Sales agreed pipeline remained strong at £22.2 million
– The number of assisted acquisitions by franchisees increased by 75%
– Integration of the largest acquisition, Hunters, was successful

The Group generated £8.2 million of free cash flow in FY22, enabling the repayment of a £7.5 million term loan. TPFG ended the year with a net cash position of £1.7 million, compared to a net debt of £2.7 million in the previous year. Dividends paid and declared for FY22 amounted to 13.0p per share, up from 11.6p in FY21.


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