Hunters Property PLC AGM Statement and Trading Update (6004F)
May 19 2017 - 1:00AM
UK Regulatory
TIDMHUNT
RNS Number : 6004F
Hunters Property PLC
19 May 2017
Embargoed 7.00a.m.
19 May 2017
HUNTERS PROPERTY PLC
("Hunters" or the "Group")
AGM Statement and Trading Update
Hunters (AIM - HUNT) one of the UK's largest national sales and
lettings estate agency and franchise businesses, issues an AGM
Statement and Trading Update for the first four months of the year,
ahead of its Annual General Meeting to be held today at 10.00
am.
The Chairman, Kevin Hollinrake, will make the following
statement:
"In the four months to April this year we have opened six new
Hunters branches through organic growth and a further 15 branches
with the March acquisition of Bristol-based Besley Hill, bringing
our network to 204 branches as at 30 April 2017 (April 2016: 172).
The Group has a strong pipeline of agreed sales and has increased
instructions in the four months to April against the same period
last year, laying the ground for a comparatively strong second half
performance.
The first half year is expected to end better than anticipated
considering the distortionary effect of the changes to Stamp Duty
Land Tax for second homes which took place in March 2016, and we
have confidence in the full year outcome for the Group. The
government consultation on its proposed ban on tenant fees has
begun although our exposure is expected to be less significant than
other lettings only based participants given our strong sales
profile. The period of anticipation for a General Election is
shorter than is usual so therefore so is the expected level of
associated uncertainty.
Finally I am delighted to announce our Customer Service Rating
this year is for the third year running achieving 96% across both
sales and lettings and we retain a healthy pipeline of parties
looking to join the network.
I look forward to updating you further as the year
progresses."
For more information, please contact:
Hunters Property Plc
Glynis Frew, Chief Executive Officer
Ed Jones, Chief Financial Officer 01904 756 197
SPARK Advisory Partners Limited
(Nominated Adviser)
Mark Brady
Neil Baldwin 020 3368 3551
Dowgate Capital Stockbrokers Limited
(Broker)
David Poutney
James Serjeant 020 3903 7715
Smithfield Consultants (Financial
PR)
Alex Simmons 020 7360 4900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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