Hunters (AIM – HUNT), one of the UK’s largest franchised sales and lettings agency businesses, issues an AGM Statement and Trading Update for the first four months of the year, ahead of its Annual General Meeting to be held today at 10.00 am. The Chairman, Kevin Hollinrake, will make the following statement:
“So far this year we have opened seven new Hunters branches against three for the same period last year. Despite the market’s difficulties I am delighted to announce that the first half year is expected to end slightly better than the Board anticipated which puts us in a good position. As we approach H2 we expect some challenges in the market due to the tenant fee ban which we have already factored in having adopted our plans to manage the transition. Given our strong sales profile our exposure is expected to be less significant than predominately lettings-based businesses. We believe that as the burden of regulation increases the demand from independent businesses to join our Network to take advantage of our portal discounts, technology, procurement and training and demonstrable record of improving revenue will prove even more compelling.
Finally, I am further delighted to announce our Customer Service Rating has continued at 96% across both sales and lettings and we retain a healthy pipeline of potential new franchisees seeking to join the network. I look forward to updating you further as the year progresses.”