27th Jan 2016 09:09
LONDON (Alliance News) - Hunters Property PLC said on Wednesday it had performed well across all divisions in 2015 and expected to post results ahead of the board's expectations, despite a difficult year for the UK property market.
The estate agency, which was admitted to AIM in July, said its network income was more than GBP30 million in the year ended December 31, up from GBP21.2 million in 2014.
Hunters said that despite subdued activity at the start of the year ahead of the UK General Election and a shortage of properties to sale and let since, it expected to post a 32% increase in revenue to GBP12 million for the year, with earnings before tax, depreciation and amortisation up by more than 30% versus the previous year.
It added that several new branches are expected to come on-stream during the first quarter of 2016, after 32 branches joined in 2015, and said it expects "significant further expansion" during 2016, through acquisition and franchisees.
Hunters shares were up 5.5% at 76.45 pence on Wednesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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