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 £5.3m (2014 £3.6m) and total Management Service Fees ("MSF") increasing by 64% to £4.6m (2014 £2.8m)
MSF from its lettings business increased by 33% to £3.5m (2014 £2.6m) and MSF from its sales business increased by 504% to £1.0m (2014 £0.2m). 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