Highlights 2018

Continued delivery of growth and strong results.

 

Operational highlights

  • Acquisition of MAB Glos, a network of 87 financial services advisers operating through 64 businesses
  • 26 (2017: 23) assisted acquisitions adding over £6.9m (2017: £3.3m) of network revenue
  • The Group now manages 62,780 (2017: 58,020) properties
  • Average MSF per franchise office of £28,333 (2017: £26,333) up 43% since 2014
  • Recruitment of ten (2017: six) new franchise owners
  • Net increase of 94 financial service advisers (including 87 MAB Glos advisers) to 123 (2017: 29)
  • Number of offices up to 365 (2017: 300)
 

Financial highlights

  • Group revenue increased by 21% to £13.7m (2017: £11.3m)

  • Growth in management service fees (MSF) of 7% to £8.5m (2017: £7.9m)

  • Profit before tax up 40% to £5.5m (2017: £3.9m)

  • Exceptional credit of £0.8m on finalisation of Northwood contingent consideration

  • Strong lettings bias reflected in gross profit ratio of 71% lettings:18% sales:11% financial services (74%:19%:7%)

  • Year-end bank balance of £1.8m (2017: £1.4m)

  • Increased final dividend recommended of 3.8p (2017: 3.5p)

  

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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 Adjusted

Non-financial

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