Sales and profits continue to rise after Hunters’ AIM listing
ESTATE agents Hunters has said its 2015 results will be better than expected after a strong year in which it floated on the Alternative Investment Market.
Full-year results are expected to show turnover to have increased by 32% to £12m and EBITDA – a measure of profitability – to have increased by more than 30%.
The growth was achieved, it said, despite subdued activity before the general election – which resulted in Hunters’ co-founder and chairman Kevin Hollinrake becoming MP for Thirsk and Malton – and a “national shortage” of properties for sale and to let.
The group added 32 branches to its network last year, and bought a 23-branch network, to end 2015 with 170 offices.
It will open “several” branches in the first quarter of this year and the board “confidently expects significant further expansion during 2016”.
Hunters floated last July at 60p per share , which quickly rose to 90p before dropping back down in the autumn. Last night’s close of 72p valued the business at £20m.
