Franchise company Hunters has posted a strong set of interim results for the first half of this year.
Network income rose by 7% to £19.2m in the first six months of the year, up from £17.9m for the same period in 2018.
Adjusted operating profits rose to £1.1m (£0.85m for first six months of 2018).
Hunters also reported eight new branches converting to the group during the first six months, at an average network income per branch of £425,000.
There were 15 acquisitions of lettings books by its franchisees, helped by Hunters’ central acquisition fund, and contributing to a 12% increase in network lettings income.
The average branch income (sales and lettings) is performing at 9% more than a year ago, and according to Hunters 16% above the market performance.
Almost 5,000 employee training courses were undertaken by Hunters in the first six months of the year which has resulted in 80 branches being accredited for both sales and lettings.
Digital and social media marketing has resulted in web sessions increasing, and online appointment bookings increased by 40% in the six month period.
Glynis Frew, chief executive, said: “We’re extremely encouraged by these first six months and expect an even better performance come the end of the year.
“There is no getting away from the fact that the marketplace faces profound challenges in terms of the ongoing economic volatility and now the tenant fee ban too.
“However, we continue to roll out a well-designed strategy which makes Hunters a strong brand to become a part of.
“We support independent agents, and our procurement ability, plus our continued investment in training, technology and marketing, puts us in good stead to further strengthen our appeal and for our mutual growth to continue.”
Comments (3)
Hunters are unprofessional and lack any integrity. They do not care about customer service or in reigning in rogue Hunter franchises. Unfortunately this kind is company gives everyone a bad name in the industry. If you think they train well and give good customer service you don’t know what your talking about.
Well done Hunters. Great organisation with first class training and genuine commitment to customer service. If anyone is considering a franchise they’ll get great support and should check out Hunters.
Interesting.
Also in their statement they claim to have hit 203 branches. In a similar statement a year ago they claim to have exceeded 200 branches. Even further back, Feb 2018 they claim 2013. Back even further, Oct 2017 they claim over 200. If they are recruiting as many as they say perhaps in the interests of balance they should be rather more transparent and explain how many are closing, on the face of it it looks like more than they are opening !
Also not mentioned in this article is pre tax profits (real world) down 6% YOY.