HUNT.L Regulatory News (HUNT)

30 March 2020

The information communicated in this announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Hunters Property PLC

("Hunters" or "the Group")

Update re Covid-19 and trading

Hunters Property Plc ("Hunters" or the "Company" or the "Group" (Aim: HUNT)), one of the UK's largest franchised sales and lettings agency businesses, provides the following update regarding the impact of the Covid-19 outbreak on current trading and on the publication of the results for the year ended 31 December 2019.

In response to recent guidance from the Financial Conduct Authority and London Stock Exchange, Hunters PLC announces that the publication of its preliminary results, previously expected on or around 2nd April 2020, will be delayed. The Annual general Meeting will also be delayed.

In a trading statement dated 30th January, the Group reported a strong finish to 2019. This strong momentum carried through to 2020, with instructions and gross sales across the network up 8% and 17%, respectively, in the period to 29th February as against the first two months of 2019.

Since then, however, the terrible spread of the Covid-19 virus and the necessary steps taken by the Government in response has had a material adverse impact on the economy, leading to a very significant slowing of activity in the housing market. We have taken and will continue to take appropriate measures to mitigate the impact on our colleagues and to ensure we are able to support our network and customers.

Despite a strong start to the year, this will lead to a material adverse impact on our performance in 2020. It is too early to quantify exactly what this impact will be, but in the short term we expect that revenues from Residential Sales will be most affected, which represented approximately 25% of revenues in 2019. Franchise and Lettings revenues we would expect to be more robust, which together represented 66% total revenues in 2019. We will provide clearer guidance with the eventual publication of our 2019 results.

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