MartinCo PLC Trading Update and Capital Markets Event (0394D)

TIDMMCO

RNS Number : 0394D

MartinCo PLC

22 October 2015

MARTINCO PLC

("Martin & Co", the "Company" or the "Group")

Trading Update for the nine months ended 30 September 2015

Record revenue up 47% with successful integration of the "Xperience" brands and continued development of estate agency and lettings

MartinCo Plc, one of the UK's largest property franchises, today announces the following trading update for the year ending 31 December 2015 in advance of its Capital Markets Event for analysts and investors at the offices of Bell Pottinger in London.

A copy of the presentation given by management will be made available on the Company's website later today. http://www.martinco.com/investor-relations

TRADING SUMMARY

The period to 30 September 2015 has been a record for the Group, with total revenue increasing by 47% to GBP5.3m (2014 GBP3.6m) and total Management Service Fees ("MSF") increasing by 64% to GBP4.6m (2014 GBP2.8m)

MSF from its lettings business increased by 33% to GBP3.5m (2014 GBP2.6m) and MSF from its sales business increased by 504% to GBP1.0m (2014 GBP0.2m). This growth was primarily as a result of the Xperience acquisition in October 2014.

The Martin & Co branded network achieved 6% growth in MSF from lettings and 78% growth in MSF from sales compared to the same period last year.

Ian Wilson, CEO commented:

"Our strategy of developing the Group by acquiring other property franchisors continues to deliver strong growth. Trading up to the end of September is in line with expectations".

-Ends-

For further information, please contact:

 
 MartinCo Plc 
  Ian Wilson, Chief Executive Officer 
  David Raggett, Chief Financial Officer         01202 292829 
 Panmure Gordon 
  Dominic Morley (Corporate Finance) 
  Charles Leigh-Pemberton (Corporate Broking)    020 7886 2500 
 Bell Pottinger 
  David Rydell 
  Henry Lerwill                                  020 3772 2500 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 22, 2015 02:00 ET (06:00 GMT)