Property Franchise Group Reports Rise in First-Half Profit
By Adria Calatayud
The Property Franchise Group has announced an increase in its pretax profit for the first half of the year. Lower costs and strong leasing activity have contributed to this positive outcome. The company expects these favorable conditions, including a subdued sales market, to continue into the second half of the year.
In the first half, the property franchisor achieved a pretax profit of £4.2 million, surpassing the £3.8 million reported during the same period in the previous year. Despite economic uncertainty, revenue slightly increased from £13.1 million to £13.2 million. However, there was a decline in sales transactions, partially offset by the strength of the leasing segment.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also experienced growth during the first half, rising to £5.8 million from £5.7 million.
Historically, Property Franchise has seen higher revenue and profits in the second half of the year, and it appears that this trend will continue. As a result, the company's board has decided to raise the interim dividend by 10% to 4.6 pence per share.
All Rights Reserved © 2024
Post a comment