Finance

Property Franchise Group posts strong annual profit growth

By 2018-04-10T07:09:00

London houses

Source: Shutterstock/Nadina

The Property Franchise Group, the estate agency franchise group, has revealed a 33% rise in pre-tax profit for the year to 31 December 2017.

Pre-tax profit for 2017 came in at £4.3m, compared to £3.9m in 2016, off the back of a 23% increase in revenue to £10.2m. Adjusted earnings increased 14% to £4.4m, while management service fees increased 20% to £8.3m. Earnings per share increased 9% to 14.2p, while the group had £2.6m in the bank, and a debt of £2.5m at the end of last year.

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