8th May 2014 11:33
LONDON (Alliance News) - Martin & Co PLC said Thursday that the firm has made good development progress since listing on the AIM market in December as its franchise network continues to grow.
In a statement released ahead of the company's annual general meeting today Chairman Richard Martin said that the company continues to pursue a number of "organic and acquisition based opportunities which would benefit shareholders in the longer term."
Since listing in December last year, Martin & Co has expanded its franchise network to 191 offices across the UK, 124 of which offer full estate agency services and "have ambitions for further solid growth."
Looking ahead, Martin said "Current trading remains in line with the statement made at the time of the Company's full year financial results and the Board looks forward to the future with confidence."
In March the property franchise company reported lower pretax profit for 2013 due to the costs of its listing, but said its revenues and pre-items operating profits rose strongly. Pretax profit came in at GBP884,180, down from GBP1.4 million in 2012, as it booked GBP742,517 in costs for its AIM initial public offering.
Shares in MartinCo were trading 0.37% lower at 134 pence per share Thursday afternoon.
By Alice Attwood; [email protected]; @AliceAtAlliance
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