A trading statement this morning from The Property Franchise Group says its online brand, EweMove, is still trading profitably - and the rest of the group is also performing strongly despite challenging market conditions.
In the six months to the end of June the firm saw revenues increasing 11 per cent to £5.3m - up from £4.7m a year ago.
Management service fees increased by 15 per cent to £4.4 million with total tenanted properties served rising six per cent to around 53,000.
"We are pleased to deliver revenue growth across all five of our high street brands and also our online brand, EweMove. We remain confident that our franchise model of local business owners, allied to a central support infrastructure, can outperform both small independent estate agency businesses and the large corporate players, and have demonstrated that we can gain an increasing share of the developing online agency market. As such, we will continue to leverage our scale and strong financial position to capitalise on the opportunities both on the high street and online" says chief executive Ian Wilson.