The Property Franchise Group (TPFG) H1 2026 earnings summary

Executive summary

• Achieved record first-half performance with 7% revenue growth to £43.3m year-over-year, driven by robust organic growth and platform expansion despite a subdued UK sales market.

• Adjusted profit before tax rose 7% to £15.5m, and adjusted basic EPS increased 8% to 19.8p; statutory profit before tax fell 7% due to prior-year one-off gains and higher share-based payments.

• Interim dividend increased by 10% to 7.7p per share, reflecting strong cash generation and confidence in future growth.

• Platform initiatives, including the Privilege programme and AI-enabled products, contributed to operational resilience and income diversification.

Financial highlights

• Group revenue up 7% to £43.3m; like-for-like revenue up 4%.

• Adjusted EBITDA increased 3% to £16.2m; adjusted operating profit up 5% to £15.6m.

• Net debt reduced to £8.1m from £10.9m year-over-year.

• Cash generated from operations was £13.4m, with cash conversion at 83%.

• Recurring revenue represented 46% of total revenue.

Outlook and guidance

• Trading in the second half has started with good momentum; full-year performance expected to be in line with market expectations.

• Lettings benefit from strong structural demand and regulatory support; sales market remains subdued but pipeline up 2.5% year-over-year.

• Continued rollout of Privilege, integration of SAFS, and AI product adoption expected to drive further growth.