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1 Jun 2016 07:00
01 June 2016
Hunters Property PLC
("Hunters" or "the Group")
Trading update
Hunters, one of the UK's largest national sales and lettings estate agency and franchise businesses, is pleased to provide the following trading update.
The start of 2016 has exceeded the Board's expectations with the Group having performed well across all divisions. The excellent pace of roll-out has continued with the Group opening 10 new branches in the first four months. The Group continues to benefit from additional contribution from the 32 branches opened last year plus the announced acquisitions.
Our business income to 30 April 2016 was generated 54/46 between the South and the North and lettings income has increased by a further 20% as against the same period last year. The Group started Q2 with a strong pipeline in both lettings and agreed sales; the number of prospects for further branch openings is also strong, reflecting the strength of Hunters' proposition to franchisees. The Company therefore expects to post results for the first half of the year ahead of the Board's expectations and significantly ahead of the equivalent period last year.
The Board continues to review strategic acquisitions.
The Board proposed a final dividend of 1.0p per share on 28 April, which, subject to shareholder approval on 17 June is due for payment by 23 June to those shareholders on the register as at 13 May 2016. It is the Board's intention to look to increase the interim dividend, as part of its progressive dividend strategy.
For further information please contact:
Hunters Property PLCKevin Hollinrake, Chairman Harry Hill, Chief Executive Ed Jones, Chief Financial Officer
| 01904 756 197 |
Numis SecuritiesStuart Skinner, Paul Gillam (Nomad) Tom Ballard (Corporate Broking)
| 020 7260 1000 |
Smithfield Alex Simmons
| 020 7360 4900 |
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