Estate agent franchise group hails 'remarkable year' thanks to buoyant market
By Matt Hall | 27th April 2021
The franchise group behind well-known estate agents CJ Hole, Hunters, Parkers and Martin & Co, has revealed a promising start to the year after strong growth in 2020.
With its network also including EweMove, Ellis & Co and Whitegates, The Property Franchise Group (TPFG) reported a 20 per cent rise in profit before tax for the year ending December 31 2020.
Richard Martin, non-executive chairman of TPFG said: "It has been a remarkable year for us and our network.
"Despite the challenges we all faced because of the Covid-19 pandemic, I am pleased to report that we have made strong progress as a group and achieved a significant improvement in profit before tax, up to £4.8m vs last year's £4.0m."
Revenue also increased to £11.5m, with network income rising from £93m to £94m year on year.
The group acquired Hunters in March 2021 and has now also announced a new partnership with LSL Property Services, to offer mortgage and protection advice to all TPFG franchisees.
Chief executive Gareth Samples added: "The acquisition of Hunters post-period end and the strategic partnership announced today with LSL has significantly bolstered our position in the market, and I am excited to see what we can achieve in the coming year.
"Looking forward, we have a strengthened platform to focus on the growth of our Financial Services capability, build upon the success of our hybrid offering, EweMove, and leverage Hunters and TPFG's existing strengths across the enlarged Group."
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