(Alliance News) - HML Holdings PLC on Tuesday reported strong growth in profit and revenue in a "good" year but warned of potential legislative changes in the property sector.
In the financial year that ended March 31, the property management services company posted a 13% increase in pretax profit to GBP1.7 million from GBP1.5 million the year before.
HML's revenue increased 8.1% to GBP28.1 million from GBP26.0 million the year before.
"We enjoyed revenue and earnings growth from virtually all the group's business segments and revenue lines. The only exception to this positive trend was in the pre-contract enquiry fees segment where we incurred a 7% fall in revenues as a result of the lower number of property sales. Surveying fees remained steady with a reduction in freehold valuation and consultancy fees being offset by stronger buildings reinstatement valuations and to a lesser extent building surveying work," the company explained.
HML upped its full-year dividend by 12% to 0.47 pence from 0.42p the year before.
Chief Executive Robert Plumb added: "It has been a good year for HML growing adjusted Ebitda by 8% while significantly improving our service coverage with the addition of four acquired offices in key locations for our growing client base. We are confident in our ability to maintain this momentum while we continue to build our network and our central support divisions."
Looking forward, the company said: "We remain confident in our strategy to deliver a local and personal service through our distributed network of offices while maintaining our adherence to the increasing standards of compliance required of our profession. Although frustrated somewhat by governmental attention to areas other than leasehold, we continue to anticipate legislative changes to our market."
Shares in HML Holdings were untraded in London on Tuesday but last closed at 34.41 pence each.
