LONDON (ShareCast) - (Sharecast News) - The Property Franchise Group reported record first-half results on Wednesday, boosted by acquisitions, strong revenue growth across divisions and continued cash generation.
Group revenue rose 50% to £40.3m in the six months ended 30 June, compared with £26.9m a year earlier, with pro forma growth of 8%.

Franchising revenue increased 20% to £21.8m, financial services grew 59% to £12.2m, and licensing revenue surged more than fivefold to £6.3m.

Adjusted EBITDA advanced 63% to £15.7m, while adjusted profit before tax rose 59% to £14.5m.

Adjusted earnings per share climbed 18% to 18.3p.

The interim dividend was raised 17% to 7.0p per share.

The AIM-traded company said it continued to benefit from cost and revenue synergies following the integration of Belvoir and GPEA, with £1m of additional savings realised in the period.

Cash generated from operations increased to £13.2m from £3.7m a year earlier, while net debt fell to £10.9m from £14.3m.

Operational highlights included the launch of the 'Privilege' programme to strengthen its lettings offer, progress on AI initiatives set to roll out in the second half, and an expanded sales pipeline of £43.5m.

"This has been another record six months for the group, driven by the successful integration of recent acquisitions and the enduring strength of our franchise model," said chief executive Gareth Samples.

"The enlarged group is delivering both cost and revenue synergies, while generating strong cash flows which support our progressive dividend policy.

"Our increased scale and reach provides multiple growth levers - further expanding our three divisions, launching market-leading initiatives such as the Privilege programme, and advancing our AI and technology opportunities."

The group said it had entered the second half with strong trading momentum and remained confident of meeting full-year market expectations.

It also confirmed that non-executive director Dean Fielding would step down from the board at the end of 2025.

At 1102 BST, shares in the Property Franchise Group were up 3.01% at 578.9p.

Reporting by Josh White for Sharecast.com.

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