Agency hails “transformational” merger with lettings giant

Agency hails “transformational” merger with lettings giant


Todays other news


The Property Franchise Group, which calls itself the UK’s largest multi-brand property franchisor, says its merging with lettings giant Belvoir has been “transformational”.

Non-executive chairman Paul Latham has told the TPFG shareholders’ annual general meeting that the move to absorb Belvoir, along with last week’s acquisition of The Guild of Property Professionals and Fine & Country, have transformed the group. 

He says: “Our longstanding businesses have traded in line with our growth objectives. Notably, their lettings’ revenues have continued to grow at similar rates to last year and the sales-agreed pipeline at 30 April 2024 was 20% up on the same period in FY23, signalling a much stronger sales market so far in FY24.

“We now have one of the most experienced management teams in the sector with a broad set of complementary skills and an unrivalled expertise in both franchising and licensing. This extensive experience will help us to both integrate and leverage our breadth of capabilities to enhance revenues across the businesses.

“We are cognisant of the pending General Election which may impact the sales market’s recovery over the summer as well as some broader headwinds. Notwithstanding these uncertainties, we are confident of driving our organic growth, delivering the expected synergies from our recent acquisitions and developing new additional revenue streams. 

“For these reasons, the Board looks to the future with confidence and excitement about the further value we can deliver for all stakeholders from our increased scale and ongoing ambition.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
Andrews Property Group is under charitable ownership...
The supplier says half of its clients now use open...
Zak O'Sullivan is racing internationally this season, for the first...
David Smith Weill be answering agents' questions...
The Welsh Government is backing the call for a 'compensation'...
There will be a greater emphasis on digitisation....
A consultation document is being released today....
Recommended for you
Latest Features
Andrews Property Group is under charitable ownership...
New tenancies in England and Wales are at their lowest...
The Scottish system would differ from the UK system in...
Sponsored Content
Tenants want a place they can call home—somewhere comfortable, safe,...
Letting agencies face the dual challenge of keeping both landlords...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here