Exhibit: MBP performance data for year ended 31 December 2019
|
Financial data
|
MBP Total
|
Average MBP Branch
|
Branch A (note 1)
|
Branch B (note 2)
|
|
£’000
|
£’000
|
£’000
|
£’000
|
|
Total value of completed property sales
|
240,000
|
34,286
|
24,500
|
28,100
|
|
Revenue (1.5% commission of property sales plus other services)
|
4,800
|
685
|
538
|
632
|
|
Costs
|
(2,900)
|
(414)
|
(326)
|
(468)
|
|
Profit
|
1,900
|
271
|
212
|
164
|
|
Profit margin
|
40%
|
40%
|
39%
|
26%
|
|
Operating data
|
MBP Total
|
Average MBP Branch
|
Branch A
(note 1)
|
Branch B (note 2)
|
|
Number of properties sold in year
|
660
|
94
|
70
|
84
|
|
Number of employees
|
42
|
6
|
6
|
7
|
|
Properties sold per employee
|
15.7
|
15.7
|
11.7
|
12
|
|
Revenue per employee
|
£114,167
|
£114,167
|
£89,666
|
£90,286
|
|
Number of enquiries from potential sellers
|
1,200
|
171
|
225
|
153
|
|
Conversion of enquiries into sales (properties sold/number of enquiries)
|
55%
|
55%
|
31%
|
55%
|
|
Average time taken to sell a property (weeks)
|
15
|
15
|
16
|
14
|
|
Final selling price as a % of original asking price
|
93%
|
93%
|
89%
|
94%
|
Notes
- Branch A is located in a town with a population of 180,000 people. The town has a university and is home to the regional headquarters of a major bank.
- Branch B is located in a town by the sea with a population of 140,000 people. The town was popular as a holiday destination for many years, but its economy has suffered due to the rising popularity of foreign holidays. A significant number of people living in the town are retired.
Industry benchmarks - 2019 average UK traditional estate agency
Commission rate: 1.8%
Time taken to sell a property: 10 weeks
Selling price as a % of original asking price: 93%