The Property Franchise Group PLC, the UK’s largest multi-brand property franchisor, has announced its final results for the year ended 31 December 2025.
The group reports a record year, delivering strong organic growth and a 22% increase in full year dividend.
TPFG’s chief executive officer, Gareth Samples, commented: “2025 was characterised by strong organic growth and solid operational progress across all three divisions, delivering profitability ahead of expectations. The scale and capability built through last year’s acquisitions materially strengthened our strategic position and underpin the continued development of our platform model, enabling us to deliver enhanced value to franchisees, licensees and advisers.
“The successful launch of the Privilege programme, record performance in Financial Services and continued momentum in our Licensing division demonstrate the benefits of our increased scale and our ability to capture new revenue opportunities.
“Looking ahead, we expect further commercial opportunities. Our diversified income streams, strengthened balance sheet, and expanding platform provide a resilient foundation from which to pursue further growth. This will continue to assist us in navigating market cycles in our core lettings and sales markets. With a clear strategy in place and proven ability to capitalise on changing market dynamics, we remain confident in our ability to deliver sustainable long-term value for shareholders.”
Group revenue increased 25% to £84.3m (2024: £67.3m), 9% growth on a pro-forma basis1 with 51% (2024: 52%) of revenue from recurring revenue sources | |
Management Service Fees (“MSF”) increased 14% to £32.4m (2024: £28.3m) | |
Financial Services revenue increased 26% to £24.2m (2024: £19.2m) | |
Licensing revenue increased 75% to £12.6m (2024: £7.2m) | |
EBITDA increased 49% to £30.3m (2024: £20.4m) | |
Adjusted profit before tax2 increased 39% to £31.0m (2024: £22.3m) | |
Adjusted basic earnings per share2 increased 27% to 40.3p (2024: 31.7p) | |
Net debt reduced to £2.3m (2024: £9.1m) | |
Cash generated from operations increased to £22.1m (2024: £14.7m); conversion from earnings of 116% (2024: 145%) | |
Proposed final dividend of 15p, making a full year dividend of 22p per share, up 22% (2024:18p) |
Managed portfolio of 149,000 properties (2024: 153,000), reflecting landlord caution ahead of the Renters’ Rights Act and a more measured pace of portfolio acquisitions | |
Completed on 35,000 residential sale transactions (2024: 30,000) | |
Sales pipeline remained steady at £33.0m (2024: £33.4m) | |
Launched the Privilege programme, a set of lettings-focused offerings for franchisees, which added £1.5m of incremental revenue | |
Financial Services division delivered a record 25,000 mortgages (2024: 23,000 mortgages) | |
In the Licensing division, Fine and Country added a further 13 new licensees including eight new international offices | |
Significant progress in AI focused initiatives with rollout started in 2026 | |
Enhanced senior leadership team to support the next phase of the Group’s growth |
Focused on delivering further revenue synergies arising from the Group’s increased scale and platform capabilities | |
Well positioned to navigate anticipated market conditions in 2026, including the impact of evolving government legislation | |
Continuing to pursue complementary acquisition opportunities that strengthen the platform and generate accretive returns for shareholders | |
Our franchise model, highly recurring revenue streams and strengthened leadership provide a compelling platform for growth, and the Board is confident in delivering the full potential of the enlarged business |
