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Hunters hits 170 offices and seeks "significant expansion" in 2016

Sales and lettings franchise giant Hunters has told the City it is anticipating “significant expansion” this year through additional franchises and further acquisitions.

Its trading update reflecting the company’s activities since July - when it floated on the Alternative Investment Market - claim that 2015 was a year of “significant achievement” with income from its network of offices exceeding £30m for the first time, and well above the 2014 level of £21.2m.  

It claims independent businesses that converted to the Hunters brand experienced an average increase in revenue of 29 per cent.

During 2015, 32 new branches joined the network; over the last two years the group has attracted 63 new branches.

Hunters now has 170 offices, with 11 owned and 159 franchised.

Full year results are expected to show turnover to have increased by 32 per cent to £12m, and EBITDA to have increased by over 30 per cent. 

The Board declared a maiden dividend payment of 0.5p per share in October, and as indicated at that time, intend to adopt a progressive dividend policy.

Hunters says it has particularly strong levels of letting activity while the pipeline of agreed sales in the hands of lawyers is at a record level for the time of year.

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