Heads they win tails we lose!
An impressive trading update encourages greater interest in a motor retailer covered here, but shareholders are at the back of the queue to benefit. Elsewhere, the latest trading update from a property franchisor was extremely encouraging, with forecasts far too modest in our opinion. Read on for more on this.
Property Franchise: confident of a very strong performance The Property Franchise Group (LON:TPFG), the UK's largest property franchisor, reported like for like revenue and Management Service Fees significantly up on the same period in 2020 and, more importantly, in 2019 in its latest trading update. Group revenue increased 111% to £11.4m and, while the majority of this was down to the Hunters merger, there was still a 35% like for like increase to £7.2m or 33% increase on 2019 numbers. The all-important Management Service Fees ("royalties") increased 69% to £7.1m, up 23% on 2019. TPFG network closed the period managing…