Hunters, which floated on the Alternative Investment Market last July, has issued a strong set of maiden results to the City.

Network income was up 42% on the previous year at £30.2m, turnover up by 31% to stand at £12m, and pre-tax profits up 59%.

Earnings before costs (EBITDA) were up 46% to £1.57m.

Hunters, a largely franchised organisation with over 170 branches, was founded by its current chairman, Kevin Hollinrake, who is now a Tory MP.

Hollinrake said: “2015 saw a step forward in pursuit of the Group’s clear ambition to become the nation’s favourite estate agent.

“Having opened 63 branches in the last two years through organic growth, we are without doubt the fastest growing business in our sector.

“In 2015 we secured additional capital, added 32 new branches to the network, including 23 independent businesses, and added another 23 branches through the purchase of a highly successful home counties franchised chain, Country Properties.

“Our average branch revenue rose by 5.6% to £178,000, a tremendous achievement against the background of a more subdued market.

“Independent agents that converted to the Hunters brand, for whom 2015 was their first full year as part of the network, increased revenue per branch by 29%, a clear illustration that our quality well-known national brand and good reputation has delivered improved income for our network partners.”

Hunters said that market activity levels so far this year are 14.1% higher compared to the same period last year.

It opened seven new branches in the first quarter of this year, and said there is a pipeline of new branches significantly ahead of 2015.