The Property Franchise Group (TPFG) yesterday reported a 50% rise in half-year revenue to £40.3 million driven by strong organic growth across all three of its core divisions: franchising, financial services and licensing.
In a trading update for the six months to 30 June 2025 the UK’s largest multi-brand property franchisor said full-year performance is expected to be in line with market expectations, with continued momentum anticipated in the second half of the year.
Franchising revenue climbed 22% to £21.8 million, with like-for-like lettings revenue up 5% and sales revenue rising 18%.
Growth was boosted by strong lettings performance and an early-year surge in homebuying activity ahead of March’s stamp duty change.
PRIVILEGE PROGRAMME
The Group’s new lettings-focused “Privilege” programme – designed to leverage its increased scale following last year’s Belvoir acquisition – is set to roll out in H2.
The financial services division also saw a robust first half, with revenue up 54% to £12.2 million and 13,000 mortgages written – up from 7,700 a year earlier. On a proforma basis, this equated to a 14% rise.
Licensing income increased more than fivefold to £6.3 million, partly reflecting growth in the Fine & Country business, which added 10 new licensees over the period.
Despite net debt rising to £10.8 million due to working capital movements and acquisition-related payments, the business generated £15.2 million in cash during the period and expects to report a one-off gain of £1.25 million related to amended GPEA deal terms.
STRONG PERFORMANCE
Chief Executive Gareth Samples (main picture) said: “I am delighted that the Group has continued to deliver a strong performance across all three divisions in the first half.
“With the significant growth and step change achieved in FY24, post acquisitions, we continue to deliver the anticipated synergies whilst leveraging our enhanced scale and capabilities to deliver greater value to our franchisees and members.
“Our resilient franchise business model, diversified revenue streams and continued strong cash generation provide the Board with confidence for the year ahead.”
