Hunters income and profits on the rise in spite of shaky market

Franchise giant Hunters has reported its latest results to the city, showing impressive growth despite a slow-moving property market.

In the six months to June 2018, the company's income increased to reach £17.9 million with operating profit up 7% to £854,000.

Lettings income increased by 14%, largely driven by Hunters' acquisitions of lettings books and competitors.

Following yesterday's results, the company's share price on the London Stock Exchange remained steady at 49.6. This follows a recent peak of 60.3 in June.

During the first six months of the year, the agency has opened an additional eight branches, six of which have converted to the Hunters brand from other businesses.

The company's branch total now sits at 203.

The group says it has broken records when it comes to its training academy - where over the first half of 2018, 4,000 courses have been completed. 

There has also been an effort to develop the brand's online presence, including a revamped website and increased activity across social and digital platforms.

"We have delivered robust results against a backdrop of markets that have continued to contract in terms of completed sales transactions," says Glynis Frew, Hunters' chief executive.

"We are underpinned by our strategy to grow and develop the franchise network and we are bolstered by the pipeline of prospective franchisees interested in joining Hunters."  

The Hunters board says it is confident that the full year outcome will meet its expectations.