Last checked at 30 Jan 2014 07:00
MartinCo PLC
Pre-close Trading Update
MartinCo Plc, one of the UK's largest property franchises, today issues the following pre-close trading update for the year ended 31 December 2013, ahead of reporting its final results for the year on Monday 31 March 2014.
Trading summary
The year to 31 December 2013 has been another record year for Martin & Co, with the Franchise Network's Total Fee Income increasing by 10.6% overall compared to 2012, and each month of 2013 representing a new record over the corresponding month in the previous year. The Group enjoyed particularly strong trading in its final quarter, with the Franchise Network's Total Fee Income increasing by 11.2% on a like-for-like basis compared to 2012.
The Board expects to report full year financial results in-line with budgeted expectations.
Following admission of the Company's shares to trading on AIM in December 2013 the Board believes Martin & Co is well placed to make selective acquisitions which will enhance shareholder value.
Ian Wilson, CEO MartinCo commented:
"The combination of a record final quarter and a successful IPO concludes a satisfying year at Martin & Co. The Group is confident in its ability to deliver its targets for 2014, encouraged by improving market sentiment within UK residential property, and the increased lending to the investment landlord sector."
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For further information, please contact:
MartinCo Plc Ian Wilson, Chief Executive Officer David Raggett, Chief Financial Officer |
01202 292829
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Panmure Gordon Dominic Morley, Nicola Marrin (Corporate Finance) Charles Leigh-Pemberton (Corporate Broking) |
0207 886 2500
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Bell Pottinger David Rydell, Charles Goodwin, Guy Scarborough
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0207 861 3232
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About MartinCo
MartinCo Group operates one of the UK's largest residential letting businesses through its market leading brand Martin & Co. The Group comprises 157 franchise owners trading at 188 offices, with a further one trading office which is currently Group owned.
The Group's franchisees manage approximately 30,000 properties on behalf of private clients. The Group added an estate agency service in 2013 with 95 of its franchise owners licensed to offer this service.
Martin & Co is a multiple award winning business and the Directors and senior management have over 100 years of combined residential letting and estate agency experience.
www.martinco.com