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BRIEF-Hunters Property sees FY trading slightly ahead of its expectations
December 14, 2016 / 7:45 AM / a year ago

BRIEF-Hunters Property sees FY trading slightly ahead of its expectations

Dec 14 (Reuters) - Hunters Property Plc :

* Strong performance that we reported at time of our interim results in September has continued in second half of year

* Expects trading for full year to be significantly ahead of last year and slightly ahead of board’s expectations

* Lettings income over this period increased by 18 pct compared to same period last year

* Strong sales bias (72 pct of group revenues) and is therefore confident it can manage and adapt accordingly

* Intention on back of full year results to look to increase its final dividend as part of its progressive dividend strategy

* Recruitment of franchisees and roll-out of new branches is on-track to exceed 30 or more new branches for third consecutive year

* Network income to Oct. 31, 2016 was almost 29 mln stg (October 2015: 24.3 mln stg) split 58/42 between South and North

* Q4 2016 has started with a strong pipeline of sales, lettings and scheduled branch openings, reflecting strength of Hunters’ proposition to franchisees

* Continues to monitor and review government’s proposal to ban tenant fees

* Continues to review strategic acquisitions Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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