Good shepherds? Martin & Co reveals the figures behind EweMove

first_imgHome » News » Agencies & People » Good shepherds? Martin & Co reveals the figures behind EweMove previous nextAgencies & PeopleGood shepherds? Martin & Co reveals the figures behind EweMoveRevenues from franchisees increases significantly, but at a cost to group parent company PSG.Nigel Lewis14th September 201701,894 Views Details of both how EweMove is performing within the Property Franchise Group (PSG) and the large sums of money spent by the group on the acquisition have been revealed within its interim results for the first half of the year.This includes details that the two founders David Laycock and Glenn Ackroyd (pictured right) are to be paid £1m after their departure from the online agent in March, on top of their original £5m payment “in full and final settlement”.The £1m is small change compared to what they would have received should the pair have stuck with it – PSG was due to pay them £7m this year if the online business had hit its targets.EweMove was established in 2014 but was bought by Martin & Co, which is part of PSG, in September last year in a £15m deal. Its technology is now being rolled out across the group including within Whitegates, CJ Hole, Ellis & Co and Parkers Estate Agents.PSG says revenues from EweMove from both the licence fees paid by franchisees and the completion fees paid on each transaction were £550,000 during the first six months of the year, up 35% on the same period last year.New franchiseesIn addition, PSG earned £200,000 from selling 18 new EweMove franchises during the period.But the acquisition has comes with costs. The additional expenses of administering and financing the EweMove franchise system cost PSG an extra £1 million this year, offset only by a £300,000 reduction in staff costs within other parts of the business.PSG has also revalued EweMove downwards by £500,000 as a business after receiving evidence that its value “may have been impaired,” the results say.“With the appointment of a new Managing Director for EweMove [Nick Neill, an existing Ewemove franchisee] and a new focus on recruiting experienced estate agents as EweMove’s local franchisees, management is confident of rapidly improving trading performance in this strategically important subsidiary,” says Ian Wilson, Chief Executive Officer of The Property Franchise Group (pictured, left). Ian Wilson glenn ackroyd david laycock September 14, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Growing Pumpkins

first_imgHigh temperatures, humid nights and disease pressure make growing pumpkins difficult for south Georgia farmers, according to Tim Coolong, University of Georgia Cooperative Extension vegetable horticulturist.Georgia only produces a few hundred acres of pumpkins, and an estimated 80 to 90 percent of those are grown in north Georgia, he said. Most pumpkins grown in Georgia are sold as decorations, and pumpkin growers in north Georgia sell most of those to tourists, Coolong said. Disease plays a major role in the lack of pumpkins grown in south Georgia. Due to the high temperatures in the region, especially in mid-July and early August, when pumpkins are grown, farmers face disease pressure and are often unable or discouraged to produce pumpkins. “During those hot temperatures, sometimes we don’t get very good pollination and fruit set,” Coolong said. “In addition, if there were some virus-resistant pumpkins, certainly people could grow more down here and do fairly well at it. But as of now, it’s limited to just a few growers.” Growers in north Georgia are more likely to grow bigger pumpkins because of the cooler nights in September and October. According to Coolong, in places such as Michigan and Wisconsin, producers can grow pumpkins that weigh more than 1,000 pounds. “In order to get really big pumpkins, you need cooler nights,” Coolong said. “The cooler night weather allows those pumpkins to get bigger. We can certainly grow pumpkins that weigh several hundred pounds in south Georgia, but to really get a lot of size out of them, it would help if you lived in Blairsville (Georgia) or a similar area.”Due to adverse weather conditions in the Midwest, pie and jack-o’-lantern pumpkins have been in short supply. The current pumpkin shortage in the Midwest will likely not have a large impact on the market for Georgia farmers, but Georgia consumers could see an increase in prices in stores, at vegetable stands and in pumpkin orchards, Coolong said.“The conditions in the Midwest have disproportionately affected pumpkins grown for processing compared to traditional jack-o’-lanterns. Therefore, it should not have a large impact on decorative pumpkins in Georgia, which are most common,” he said.(Tatyana Phelps is a student intern on the UGA Tifton Campus.)last_img read more

Free Eagle aiming to go out with a bang for Dermot Weld

first_imgDermot Weld’s Free Eagle aims to end his career on a high in the Hong Kong Cup on Sunday. Press Association His next run was his biggest success and he also ran with credit in the Irish Champion Stakes, where he was given a big nudge by Golden Horn, and in the Prix de l’Arc de Triomphe. The last time Weld was successful in Hong Kong was with Additional Risk, also owned and bred by Moyglare Stud Fiona Craig, representing Moyglare Stud, said: “He travelled well, but was understandably very tired on arrival. He seems in good form now and has been cantering daily, so we’ll see what happens. “Everyone seems very happy with him. He had a gallop on soft ground at Leopardstown in November that went well, but that is obviously very different to a mile and a half on fast ground at Sha Tin. “We thought long and hard whether we should run in the Cup or the Vase. I’m not sure how you can judge his run in the Arc and we know he can do it at a mile and a quarter. “It didn’t work out for him at Longchamp and we’ll never know what would have happened at Leopardstown after the incident with Golden Horn. “It’s a bit ironic that the horse who could be his biggest threat, Designs On Rome, is a horse we bred and sold as a yearling at Goffs for 10,000 euros. “All these years later, we’re taking him on in a Group One in Hong. It’s funny how things work out sometimes. “It would be great if he can go out on a high.” center_img Winner of the Prince of Wales’s Stakes at Royal Ascot in June, the four-year-old has been beset by niggles throughout his career. His problems started when he picked up an injury on his second outing behind subsequent dual Derby winner Australia. That ruled him out of almost all his three-year-old season but he returned to win a Group Three by seven lengths and go close in the Champion Stakes at Ascot. last_img read more