StockMarketWire.com - Franchised sales and lettings agency brand Hunters Property said it would look to reinstate its dividend when it relases full-year results. The company also reported higher first-half profit as cost cuts offset a fall in sales.

The full year-end results are scheduled to be announced on or around Tuesday 13 April 2021.

For six months ended 30 June 2020, pre-tax profit rose 163% to £648,000, while revenue fell 18% to $5.4 million year-on-year.

The company said it had achieved record sales activity in each of June, July and August, in the wake of easing Covid-19 restructions.

August instructions were 38% ahead of last year and leaving a network pipeline ahead 43%, the company said.

'Having finished the first half with a strong recovery in trading across our network and operating margins exceeding 2019, we have commenced the second half very positively, with activity levels returning to (and in some areas exceeding) pre-Covid levels and a lower and more resilient cost base,' the company said.

'On the basis of our current outlook, it is the board's intention to look to repay the CBILS loan, reinstate its progressive dividend policy and to pay a full year final dividend to accompany the announcement of the year-end results,' it added.




At 10:00am: [LON:HUNT] Hunters Property Plc share price was +10p at 53.5p



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