MartinCo PLC Trading Update and Capital Markets Event (0394D)
October 22 2015 - 2:00AM
UK Regulatory
TIDMMCO
RNS Number : 0394D
MartinCo PLC
22 October 2015
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 GBP5.3m (2014 GBP3.6m) and
total Management Service Fees ("MSF") increasing by 64% to GBP4.6m
(2014 GBP2.8m)
MSF from its lettings business increased by 33% to GBP3.5m (2014
GBP2.6m) and MSF from its sales business increased by 504% to
GBP1.0m (2014 GBP0.2m). 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
The company news service from the London Stock Exchange
END
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