TPFG’s interim results were well flagged in the 2nd August update. Its franchise model, as well as its focus on Lettings has supported 3.5% growth in H1 adj. PBT despite a challenging market backdrop. Guidance for FY23 is reiterated, with the H1 outturn representing 50% of our FY23 adj. PBT forecast. We expect PBT to be stable in FY23 before a return to growth in FY24. TPFG is the only company in its peer group that has not downgraded its earnings forecasts, evidencing the resilience of its mode ....

12 Sep 2023
Strong H1 outturn highlights resilience of the model

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Strong H1 outturn highlights resilience of the model
Property Franchise Group PLC (TPFG:LON) | 348 17.4 1.4% | Mkt Cap: 112.1m
- Published:
12 Sep 2023 -
Author:
Greg Poulton -
Pages:
3 -
TPFG’s interim results were well flagged in the 2nd August update. Its franchise model, as well as its focus on Lettings has supported 3.5% growth in H1 adj. PBT despite a challenging market backdrop. Guidance for FY23 is reiterated, with the H1 outturn representing 50% of our FY23 adj. PBT forecast. We expect PBT to be stable in FY23 before a return to growth in FY24. TPFG is the only company in its peer group that has not downgraded its earnings forecasts, evidencing the resilience of its mode ....