Quotes delayed, except where indicated otherwise. Currency in GBp.
MartinCo Plc (AIM: MCO) operates one of the UK’s largest property franchise businesses through its 282 offices and 5 franchise brands:
The Group’s franchisees manage approximately 43,000 properties on behalf of private clients. The Group is weighted towards lettings, which accounts for 78% of Management Service Fees revenue.
In October 2014 MartinCo bought the Xperience Franchising Ltd. and Whitegates Estates the property franchise business of Legal & General Group PLC for up to £6m in cash.
The acquisition adds 89 offices to the Group, increasing total U.K. offices to 283.
Trading Update for Financial Year Ended 31 December 2016 MartinCo Plc, one of the UK’s largest property franchises, today issues the following …
MartinCo plc (AIM: MCO), one of the UK’s largest property franchise groups, today announces that it has acquired EweMove Sales …
MartinCo Plc Final Results for the Year Ended 31 December 2015 Acquisition contributes significant increase in profits MartinCo PLC is …
MartinCo Plc, one of the UK’s largest property franchises, today issues the following trading update for the year ended 31 December 2015, …
MartinCo, the estate agency focused largely on the lettings market, today released a trading update for the nine months ended …
MartinCo Plc, one of the UK’s largest property franchises, today announces its interim results for the period ended 30 June …
|Cost of sales*||(570)||(357)|
|Profit before income tax*||3,192||2,693|
* Less discontinued operations
|Cash & cash equivalents||199||196|
Savills, “Rental Growth in the Mainstream Market.” (Jan 2015)
“We are forecasting that the number of households in the private rented sector will rise by 1.2 million over the next five years”
Shares (Feb 2015)
“Rising demand for rental properties and a war chest of around £4m to expand its network are set to drive huge profit growth.”
Panmure Gordon (House Broker, Apr 2015)
“MCO has delivered its targets set at the time of listing in 2013. The franchise expanded 49% to 282 offices. Properties managed across the network grew by >10,000 to 42,000. The financial performance is in line with expectations with earnings before interest and tax up 25.9% to £2m. The outlook for the sector is encouraging with lettings demand exceeding supply and housing transactions set to increase with wage inflation.” (Buy. Target Price 168p)