Hunters has published its first set of results after floating on AIM on July 2.
The results relate to the six months ending June 30 – the period in the run-up to the flotation.
The results show a 45% increase in revenue to £5.23m compared with the same period last year.
Operating profit was up by 26% to £444,000.
Hunters said it has opened 19 new branches this year on top of the 23 branches acquired from Country Properties in May across Hertfordshire, Bedfordshire and Cambridgeshire.
Its network now stands at 161 branches, with a “robust” pipeline of new openings in the second half of this year.
Managing director Glynis Frew said: “We are delighted with our first set of publicly published results, which demonstrate that we have significantly outpaced our peers in the organic growth of our business to June this year, welcoming a growing rate of new franchise partners to our network.
“The market, coupled with these additional 42 branches, gives Hunters great confidence in the direction in which we are heading and demonstrates why independents are keen to talk to us about how we can help them develop their businesses.”
CEO Harry Hill said: “While the early part of the year was slow for the estate agency market as a whole and was impacted by the General Election, our performance in the first half was on plan.
“The second half is traditionally the stronger trading period, and given the current momentum in the business and the benefit of our expanded branch network we are confident of achieving strong growth and meeting our expectations for the full year.”
Hill gave the business a vote of confidence, purchasing 34,000 shares yesterday.
Hunters was launched as a single branch in York 23 years ago, and is now almost entirely franchised. Its co-founders include Tory MP Kevin Hollinrake, now its chairman.
Great. Go Hunters!
If you’re thinking of joining a strong brand do meet the people from Hunters. After a trip to their Head Office in York, I am totally impressed by their passion, integrity and systems.
I became part of Hunters by accident after Country Properties joined the Hunters Group and I am delighted to have even more marketing muscle behind my Harpenden branch.
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Cant be that great unless you have issues with the website as if you go onto the Hunters Website and search properties for sale through the Harpenden branch “No Results” are found for sales or lettings.
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£444k profit from a network of 161 branches is hardly setting the world on fire.
Am I missing something or doesnt 5.23 m equate to a turnover at each location of £35k ish – when you factor in franchise sales fees its peanuts.
Guess Harry’s working his magic again!
Maybe our Kev needs to come back and get that spin machine working on full power again!!!
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