The UK’s largest property franchisor has seen revenues more than double over the past six months.
Property Franchise Group, which owns a portfolio of estate agency brands, saw revenues rise by 111% to £11.4m from £5.4m in the first half of 2020.
While part of that stemmed from the group’s acquisition of Hunters for £26m in April, like-for-like revenues were up by 35% to £7.2m.
The bulk of earnings came from management service fees, or royalties, which increased 69% to £7.1m.
Brands owned by the Property Franchise Group include Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks and Country Properties.
EweMove, PFG’s hybrid estate agency, sold 37 territories over the half, taking the total number of territories to 149. PFG wants to double the size of EweMove territories to 230 by the end of 2022.
Chief executive Gareth Samples said: “The UK’s housing market has seen activity levels that I have not witnessed before in my career.
“This, coupled with the acquisition of Hunters and our partnership with LSL, has undoubtedly supported us in our mission to be the UK’s leading property franchisor.”
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