Highlights 2019

Continued delivery of growth and strong results.

 

Operational highlights

  • Exchanged on the acquisition of 17-office franchised estate agency network, Lovelle, in December 2019, with completion in January 2020

  • 24 (2018: 26) assisted acquisitions adding over £6.6m (2018: £6.9m) to franchisee network revenue

  • The Group now manages 68,550 (2018: 62,780) properties

  • Average management service fees (MSF) per franchise office up 35% in four years

  • 35% net increase in financial service advisers to 166 (2018: 123)

  • Number of offices up to 396 (2018: 365)

 

Financial highlights

  • Group revenue increased by 43% to £19.3m (2018: £13.4m)

  • Growth in MSF of 4% to £8.8m (2018: £8.5m)

  • Profit before tax of £5.6m (2018: £5.5m including an exceptional credit of £0.6m)

  • Strong lettings bias reflected in gross profit ratio of 61% lettings:16% sales:19% financial services:4% other (2018: 67%:17%:10%:6%)

  • Year-end cash of £3.6m (2018: £1.8m)

  • Net debt down significantly to £6.9m (2018: £9.6m)

  

Key performance indicators

The Group tracks a series of financial and non-financial metrics that demonstrate the progress we are making.

Financial

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Non-financial

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