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TODAY'S OTHER NEWS

Hunters branch network hits 200 with emphasis on IT and local expertise

Franchise giant Hunters says its branch network has now hit 200 following a spate of acquisitions in the first half of 2019 - and it says its emphasis for the future will be on technological and local expertise for customers.

In a trading statement the company has reported network income of £19.2m for the six months to the end of June this year, up seven per cent from £17.9m in the same period of 2018.

Adjusted operating profit also grew by 30 per cent to £1.1m from £850,000.

Eight new branches converted to the group over H1 2019 at an average network income per branch of £425,000, significantly above the £186,000 recorded for the whole of 2018. This took the branch network total to 200 across the UK.

Hunters’ acquisition fund has also enabled its franchisees to acquire 15 lettings books since its launch, contributing to a 12 per cent increase in network lettings income for the first six months of 2019.

“The market has been held back by the wider economic uncertainty and the tenant fee ban. However, we continue to roll out our mitigation strategy as regards the ban which is well underway and is on plan” according to Hunters Property chief executive Glynis Frew.

“We believe our exceptional customer service at local level combined with enhanced technical expertise, automated compliance and increased productivity will boost our offering even further” she continues.

A statement from Hunters chairman and Conservative MP Kevin Hollinrake adds: “We continue to drive professional standards through our industry leading Hunters Training Academy, which has seen almost 5,000 courses completed by the network in the first six months of this year. Our web sessions increased by five per cent in the period.”

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