Hunters Property PLC AGM Statement and Trading Update (6004F)

TIDMHUNT

RNS Number : 6004F

Hunters Property PLC

19 May 2017

Embargoed 7.00a.m.

19 May 2017

HUNTERS PROPERTY PLC

("Hunters" or the "Group")

AGM Statement and Trading Update

Hunters (AIM - HUNT) one of the UK's largest national sales and lettings estate agency and franchise 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:

"In the four months to April this year we have opened six new Hunters branches through organic growth and a further 15 branches with the March acquisition of Bristol-based Besley Hill, bringing our network to 204 branches as at 30 April 2017 (April 2016: 172). The Group has a strong pipeline of agreed sales and has increased instructions in the four months to April against the same period last year, laying the ground for a comparatively strong second half performance.

The first half year is expected to end better than anticipated considering the distortionary effect of the changes to Stamp Duty Land Tax for second homes which took place in March 2016, and we have confidence in the full year outcome for the Group. The government consultation on its proposed ban on tenant fees has begun although our exposure is expected to be less significant than other lettings only based participants given our strong sales profile. The period of anticipation for a General Election is shorter than is usual so therefore so is the expected level of associated uncertainty.

Finally I am delighted to announce our Customer Service Rating this year is for the third year running achieving 96% across both sales and lettings and we retain a healthy pipeline of parties looking to join the network.

I look forward to updating you further as the year progresses."

For more information, please contact:

 
 Hunters Property Plc 
  Glynis Frew, Chief Executive Officer 
  Ed Jones, Chief Financial Officer       01904 756 197 
 SPARK Advisory Partners Limited 
  (Nominated Adviser) 
  Mark Brady 
  Neil Baldwin                            020 3368 3551 
 Dowgate Capital Stockbrokers Limited 
  (Broker) 
  David Poutney 
  James Serjeant                          020 3903 7715 
 Smithfield Consultants (Financial 
  PR) 
  Alex Simmons                            020 7360 4900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 19, 2017 02:00 ET (06:00 GMT)