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RNS Number : 7103B

Property Franchise Group PLC (The)

06 June 2023

6 June 2023

THE PROPERTY FRANCHISE GROUP PLC

("TPFG", the "Company" or the "Group")

AGM Statement

The Property Franchise Group PLC, the UK's largest property franchisor, will hold its Annual General Meeting at 11:00am today during which the Non-Executive Chairman, Paul Latham, will make the following statement:

"The Board is pleased to announce that in a challenging environment, the resilience of TPFG's franchise model and of its recurring income streams, most notably lettings, continue to stand the Group in a strong position despite the wider market challenges.

"As expected, Group revenue for the first 4 months to 30 April 2023 was unchanged over the prior year as were Management Service Fees.

"Whilst the broader market remains uncertain, the Board expects this to present opportunities that the Group's robust balance sheet will allow it to explore. Overall, the Board continues to remain confident in achieving expectations for the full financial year."

For further information, please contact:

 
 The Property Franchise Group PLC 
  Gareth Samples, Chief Executive Officer 
  David Raggett, Chief Financial Officer                            01202 405549 
 Canaccord Genuity Limited (Nominated Adviser and Joint Broker) 
  Max Hartley 
  Tom Diehl                                                        0207 523 8000 
 Singer Capital Markets (Joint Broker) 
  Rick Thompson 
  James Fischer                                                    020 7496 3000 
 Alma PR                                                           020 3405 0205 
  Justine James                                                     propertyfranchise@almapr.co.uk 
  Joe Pederzolli 
  Kinvara Verdon

About The Property Franchise Group PLC:

The Property Franchise Group PLC (AIM: TPFG) is the largest property franchisor in the UK and manages the second largest estate agency network and portfolio of lettings properties in the UK.

The Company was founded in 1986 and has since grown to a diverse portfolio of nine brands operating throughout the UK, comprising longstanding high-street focused brands and a hybrid, no sale no fee agency.

The Property Franchise Group's brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country Properties.

Headquartered in Bournemouth, UK, the Company was listed on AIM on the London Stock Exchange in 2013. More information is available at www.propertyfranchise.co.uk

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END

AGMSSUFMIEDSEEM

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June 06, 2023 02:00 ET (06:00 GMT)

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