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Interim Results Released : 14 Sep 2021 07:00 RNS Number : 6411L Property Franchise Group PLC ( The ) 14 September 2021 14 September 2021 This announcement contains inside information . THE PROPERTY FRANCHISE GROUP PLC ( the " Company " or the " Group " ) Interim Results for the six months ended 30 June 2021 Full Year profit anticipated to be ahead of market expectations The Property Franchise Group , the UK's largest property franchisor , is pleased to announce its interim results for the period ended 30 June 2021 , and an update on current trading . Financial Highlights • Group revenue increased 117 % to £ 11.1m ( H1 2020 : £ 5.1m ) 37 % like for like increase to £ 7.0m * • 29 % like for like increase on 2019 * Management Service Fees ( " royalties " ) increased 73 % to £ 7.3m ( H1 2020 : £ 4.2m ) 35 % like for like increase to £ 5.7m * 23 % like for like increase on 2019 * Adjusted operating margin ** 47 % ( H1 2020 : 45 % ) • Adjusted EBITDA *** increased 108 % to £ 5.2m ( H1 2020 : £ 2.5m ) • 49 % like for like increase to £ 3.7m 117 % increase on H1 2019 Profit before tax increased 57 % to £ 3.1m ( H1 2020 : £ 2.0m ) Of which £ 0.9m arose from the underlying business and £ 0.2m arose from the acquisition of Hunters Property Plc 54 % increase on H1 2019 Adjusted basic earnings per share increased 99 % to 14.9p ( H1 2020 : 7.5p ) • Highly cash generative as demonstrated by net debt of £ 5.4m at 30 June 2021 after borrowing £ 12.5m to fund the acquisition of Hunters ( 30 June 2020 : £ nil ) . • Cash generated from operations increased 88 % to £ 4.7m after acquisition costs of £ 0.9m ( H1 2020 £ 2.5m ) • Increased interim dividend by 81 % to 3.8p ( H1 2020 : 2.1p ) * like for like comparison excluding the impact of the acquisition of Hunters . ** before share - based payments charge , exceptional items and amortisation arising on consolidation *** before share - based payments charge and exceptional items Operational Highlights • Network income increased 118 % to £ 89.4m ( H1 2020 : £ 41.0m ) 38 % like for like increase to £ 56.3m * Sales agreed pipeline increased 247 % to £ 29.5m ( H1 2020 : £ 8.5m ) 64 % like for like increase to £ 14.0m * Managing 73,000 rental properties ( H1 2020 : 58,000 ) • Ewe Move sold 37 new territories ( H1 2020 : 6 ) Gareth Samples , Chief Executive Officer of The Property Franchise Group , said : " I am delighted to be reporting record results for our Group and significant progress with our strategic objectives . We have capitalised on the increased activity in both the residential lettings market and more notably residential sales market in H1 2021. This , together with signs that the sales market continues to perform strongly into the second half , means that we now anticipate reported profits to be ahead of current market expectations for the full year .