The Property Franchise Group enjoyed a 0.5% rise to 348p in late morning trading on Tuesday after the company reported a 118% jump in company revenue in its final results for 2021.
The property franchise proprietor announced a record like-for-like group revenue increase of 26% to £24 million against £11 million in 2020.
The firm reported a network income rise of 67% to £157 million compared to £94 million in 2020 and a like-for-like network income boost of 17% to £110 million.
The Property Franchise Group’s EBITDA soared 81% to £10.4 million against £5.8 million in 2020, and a like-for-like rise of 19% to £6.8 million.
The company added that its adjusted earnings per share increased 61% to 27p compared to 16.8p in 2020.
The Property Franchise Group reported an increased sales pipeline by 73% to £26.5 million against £15.3 million in 2020, alongside a rise in managed rental properties to 74,000 from 58,000 in 2020.
The firm also expanded its portfolio with the acquisitions of estate agency Hunters in March 2021 and mortgage broker group Mortgage Genie in September 2021.
“2021 has been a milestone year for The Property Franchise Group,” said Property Franchise Group CEO Gareth Samples.
“Our determination to make the most of a buoyant sales market saw us achieve record levels of like-for-like revenue, Management Service Fees and profits.”
Samples pointed to a strong outlook for the company as activity returned to pre-pandemic levels.
“Looking ahead, we see an exciting period of further development for all our franchisees in 2022. While we expect over the year we’ll see sales activity return close to 2019 levels, so far we have seen continued high levels of demand for both sales and lettings, well above pre-pandemic norms.”
“Aside from market conditions, we have great confidence that the execution of our strategic initiatives, alongside the benefit of a full year’s contribution from our acquisitions, will underpin continued growth this year and beyond.”