2nd Aug 2023 10:16
Property Franchise Group PLC - Bournemouth, Dorset-based lettings and estate agency franchising - Reports revenue rise in first half ended June 30 of 1.0% to GBP13.2 million, from GBP13.1 million year-on-year. Property Franchise swings to net cash of GBP700,000, from GBP2.6 million in net debt the year before. The company says its performance in the first half was in line with expectations. It will report its full interim results on September 12.
Chief Executive Officer Gareth Samples says: "We are pleased with our performance in the first half of 2023. The benefits of operating a focused franchise model with multiple income streams are reflected in these results, as we continue to demonstrate considerable resilience in the face of an uncertain macro-economic backdrop."
Current stock price: 274.00 pence, up 3.4% on Wednesday
12-month change: up 1.5%
By Will Neill, Alliance News reporter
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