Yopa, the hybrid fixed-fee estate agency backed by DMG and Savills, has reported a 22% year-on-year increase in revenue to £21.2 million for the financial year ending September 2024, according to newly filed accounts at Companies House.
The results mark a third consecutive year of financial improvement and come as the business continues to deliver on a five-year strategy to profitability set in motion in October 2022.
Losses narrowed sharply from £5.5 million in 2023 to £3.2 million in 2024 – a 42% reduction.
The company is now forecasting revenues of £27 million for the current year, with losses expected to shrink further to just £0.5 million. Several individual months in 2025 have already seen the business turn a profit.
FIVE-YEAR STRATEGY
Verona Frankish (main pic), Chief Executive of Yopa, says: “When we restructured the Yopa business in early 2022 as I joined, we set out a five-year strategy to take its then loss-making activities toward profitability.
“The financial results that we have just filed at Companies House are the third such set of accounts since those changes were made and I’m delighted with the progress we are making as a team and the results we are delivering.”
Frankish, who took the helm in 2022, has overseen a wide-ranging turnaround that includes a simplification of Yopa’s shareholder base – now solely DMG and Savills – as well as investment in operational efficiencies and headcount growth among its local property agents.
AGENT NUMBERS UP
Agent numbers have increased from 140 to 200 over the past year, while overall staffing levels have reduced.
The firm’s financial services arm, Scout FS, has also reported robust growth, with annual revenues up 98% year-on-year.
The division has benefitted from targeted investment and is seen as a key pillar in Yopa’s longer-term strategy.
Investing heavily into Scout FS and into growth in agent numbers is also part of the company’s five-year vision and strategy.
Yopa would already show an annual profit in the absence of committing to this additional longer-term growth now, based upon the strong foundations built to date.
CUSTOMER CHOICE
Yopa’s Associate model – designed to sit alongside its core franchise structure and offer personally branded estate agency services – has also shown encouraging traction, contributing to what Frankish described as a “genuine customer choice” within the hybrid model.
Frankish says: “Yopa is a business in growth mode, whilst becoming more financially efficient, and we have listened and responded to the needs of our customers, our agents and the wider market.
“In 2025 we expect to see revenue growth to £27 million and month-by-month profitability, all as testament to the unwavering endeavours of our fantastic people and our ever-supportive board.”
INVESTORS IN PEOPLE
Board chairman Manuel Lopo de Carvalho, says: “I’m delighted that the Yopa business continues to perform and to meet and exceed its five-year strategy objectives.
“The leadership team, and the shareholders, have invested heavily into people, ancillary revenue streams and operational efficiency in recent years, and those efforts are proving successful. 2026 will be a pivotal year for the business as we continue to grow revenue and realise profitability.”
According to data from TwentyEA, Yopa is one of the ten largest estate agency brands in Britain. It also stands out as one of the last remaining fixed-fee players in the market following the collapse or sale of rivals including Emoov, Hatched, House Network, 99 Homes, Doorsteps and Purplebricks – sold last year to digital payments firm Stripe for just £1.
