Big estate agency loses money operationally despite ‘return to profit’

Agencies & People Home/Latest property news/Agencies & People/Big estate agency loses money operationally despite ‘return to profit’ Big estate agency loses money operationally despite ‘return to profit’

Extended 16-month accounting period flatters turnover as Chancellors group posts headline profit during 2024-45.

30th Dec 20250 608 1 minute read Simon Cairnes

The group behind Chancellors has returned to profit, despite remaining loss-making on an operating level, albeit during an extended period according to its latest accounts.

Turnover increased to £38.9m compared with £26.5m the previous year, while operating losses narrowed from £1.36m to £411,559.

16-month period

The figures cover 16 months (1 January 2024 to 30 April 2025) rather than the usual 12, meaning the turnover, loss and profit relate to a longer period than the previous accounting year. Revenue, therefore, includes more than a year’s trading and, on a normal 12-month basis, would have been lower than the headline total.

The Board states in its report: “The Company trading saw growth in performance across both its two core divisions, residential sales and lettings, throughout the period to 30 April 2025,” adding that “an improving sales market, reducing interest rates, an improved UK economic climate and Stamp Duty changes resulting in greater affordability for purchasers” which it said supported activity.

Lettings income remains relatively stable, but sales revenue remains under pressure on fees.”

Later in the report, however, it adds that, “lettings income remains relatively stable, but sales revenue remains under pressure on fees”. There are, though, no separate revenue figures for either.

The group also reported a profit of £649,775, compared with a loss of £440,243 in the previous 12 months. This was driven by £993,890 of interest receivable and a £582,331 gain on the revaluation of investments, which offset the operating loss.

At the period end, the balance sheet shows net assets of £6.6m, up from £6.0m a year earlier, while cash stood at £2.9m, compared with £6.1m previously.

Looking ahead, the estate agency says it “will continue to take a highly proactive approach to these market conditions while focusing on cost-cutting strategies, developing opportunities and realising Group synergies.”

Chancellors was acquired by Leaders Romans Group in June 2024, so the change of ownership occurred during the accounting period reported.

You can see the full accounts here.

TagsChancellors Estate Agents 30th Dec 20250 608 1 minute read Simon Cairnes Share Facebook X LinkedIn Share via Email