16 May 2019 – AGM trading update
The company has described trading during the first quarter of the current financial year as ‘robust’. It is outperforming in the three key markets in which it operates, residential lettings, property sales and financial services. Growth in Management Service Fees from lettings of 6.3% was noticeably ahead of the reported year-on-year rental index of 1.2%, growth of 10.3% from sales Management Service Fees compared with a drop of 1.5% in property transactions, and net banking from financial services on a like-for-like basis was up 20%. The company is, therefore, confident of meeting market expectations for the year ending December 2019. We keep our BUY rating.