The Property Franchise Group (TPFG) H1 2025 earnings summary

Executive summary

• Achieved record first-half results with revenue up 50% year-over-year to £40.3 million and EBITDA up 65% to £15.7 million, driven by successful integration of acquisitions and strong divisional growth.

• Integrated two major acquisitions, expanding scale and reach, and launched the Privilege Program and AI-driven solutions to enhance franchisee performance and operational efficiency.

• Maintained a strong balance sheet and low leverage, supporting ongoing growth initiatives and a progressive dividend policy.

Financial highlights

• Revenue rose 50% year-over-year to £40.3m in H1 2025; adjusted EBITDA up 65% to £15.7m; adjusted profit before tax up 59% to £14.5m.

• Adjusted basic EPS improved 18% to 18.3p; statutory EPS up 104% to 14.7p.

• Cash from operations reached £13.2 million, up 249% year-over-year; free cash flow per share increased to 12.8p from 3.7p.

• Interim dividend increased 17% to 7.0p per share.

• Net debt reduced to £10.9 million, with leverage at 0.5x.

Outlook and guidance

• Full-year trading remains in line with expectations, with strong sales and financial services pipelines and further growth anticipated through FY25.

• Privilege Program and AI initiatives expected to deliver additional income and margin benefits.

• Anticipates nearly 1.2 million property transactions in 2025, up from 1.1 million in 2024; mortgage lending expected to rise 11% in 2025.

• Rent inflation projected at 3–4% for 2025, currently running slightly above 4%.