The Property Franchise Group, which covers multiple High Street agency brands, has reported another set of strong figures to shareholders.
Lettings franchise revenue increased 2% to £10.6m in the first half of this year, with the managed lettings portfolio remaining resilient at 149,000 properties.
A statement says: “This recurring revenue base underpins the continued rollout
of the Rent Guarantee element … which now protects over 72,000 managedproperties.
“The group also successfully supported its franchise network through the implementation of the Renters Rights Act, ensuring franchisees were well prepared for the new regulatory environment.”
The firm’s agency brands are Belvoir, CJ Hole, Clarke & Partners, Country Properties, Ellis & Co, EweMove, Fine
& Country, Hunters, Lovelle, Martin & Co, Mullucks, Newton Fallowell, Nicholas Humphreys, Northwood, Parkers, The Guild of Property Professionals and Whitegates.
Overall group revenue increased 7% to £43.3m.
Chief Executive Officer Gareth Samples says: “We have delivered another robust performance, achieving a record first half despite a more subdued sales market.
“We maintained our managed lettings portfolio at 149,000 properties whilst supporting our network through the implementation of the Renters Rights Act, and successfully delivered a number of important initiatives across the group.
“ … Whilst the external environment remains uncertain, our diversified income streams and growing recurring revenue base give us confidence in delivering our plans for the full year.”
