The Property Franchise Group reported a record set of annual results yesterday with strong lettings income, improved sales activity and continued expansion across financial services and licensing helping to drive growth despite landlord caution ahead of regulatory change.
In results for the year to 31 December 2025, the UK’s largest multi-brand property franchisor said group revenue rose 25% to £84.3m, while adjusted profit before tax increased 39% to £31.0m and EBITDA climbed 49% to £30.3m.
On a pro-forma basis, which includes the prior-year contribution from the Belvoir and Guild acquisitions, revenue growth was 9%.
The group said the performance reflected a full year of contribution from its 2024 acquisitions, together with organic growth across all three divisions – franchising, financial services and licensing – supported by the scale of its national agency network.
FRANCHISE BOOM
Franchising remains the core of the business, accounting for the majority of profits, with the group operating around 1,900 outlets across 18 brands including Hunters, Martin & Co, CJ Hole, Ellis & Co and Whitegates.
During the year, franchisees completed approximately 35,000 residential sales transactions, up from 30,000 in 2024, while the managed lettings portfolio stood at 149,000 properties, compared with 153,000 a year earlier.
The group said the modest reduction in managed properties reflected landlord caution ahead of the Renters’ Rights Act and a more measured pace of portfolio acquisitions, although this was partly offset by rental inflation and new income streams.
STRONG PROGRESS
Chief executive Gareth Samples (main picture, inset) said the enlarged group had delivered strong progress despite a mixed market backdrop.
He added: “2025 was characterised by strong organic growth and solid operational progress across all three divisions, delivering profitability ahead of expectations.
“The scale and capability built through last year’s acquisitions materially strengthened our strategic position and underpin the continued development of our platform model.”
ADDITIONAL REVENUE
TPFG said its Privilege programme, launched during the year to provide compliance, rent guarantee and deposit-related services to franchisees, generated £1.5m of additional revenue and is expected to become an important driver of future growth.
The group also pointed to increasing use of technology and AI tools to improve productivity across its agency network, with early trials including automated sales support and property management systems designed to increase valuation activity and reduce administrative workload.
Financial services delivered a record performance, with the division completing 25,000 mortgages during the year, representing £4.4bn of lending, as the group continued to increase adviser productivity and cross-selling across its estate agency base.
Licensing income also grew following the acquisition of The Guild of Property Professionals, while the Fine & Country brand expanded internationally with new offices opened in Europe, Africa and South America.
RENTERS’ RIGHTS ACT
TPFG said it expects regulatory change in the private rented sector to reinforce the role of professional agents rather than weaken demand, with the group’s scale, recurring lettings income and platform model providing resilience.
Samples said: “Our diversified income streams, strengthened balance sheet and expanding platform provide a resilient foundation from which to pursue further growth.
“With a clear strategy in place and proven ability to capitalise on changing market dynamics, we remain confident in our ability to deliver sustainable long-term value for shareholders.”
