Wednesday 18 December, 2013


MartinCo PLC

Admission to trading on AIM



With a network of almost 200 offices, Martin & Co is one of the largest franchised property businesses in the UK. Established in 1986, it provides a responsive local letting and sales service with the backing of a national brand.

The company has a strong focus on lettings and currently manages 30,000 properties on behalf of private clients, which amounts to a town the size of Maidenhead in Berkshire.

In March 2012, Martin & Co introduced an estate agency service with a view to leverage and extend its established brand name in the UK. The company's approach to estate agency differs from standard commission based estate agent sales models, in that it offers an option for vendors to instruct it on a pay-as-you-go basis, depending on which services they require.

Martin & Co is a multi-award winning business, including Gold for Best Large Letting Chain at the ESTAS (Estate & Letting Agent Awards) in 2009 and 2012, Franchise of the Year awarded by The Negotiator magazine in 2011 and Lettings Agency of the Year (Silver) awarded by The Sunday Times in 2013.



http://www.martinco.com/

Final Results

Released : 31 Mar 2014


RNS Number : 5490D

MartinCo PLC

31 March 2014






MARTINCO PLC



("Martin & Co", the "Company" or the "Group")



Final Results for the year ended 31 December 2013



Record financial performance with revenue up 16% to £5.0m and operating profit up 28% to £1.8m



Well positioned for strong growth with an acquisition programme supplementing organic growth on lettings and roll-out of estate agency service



MartinCo Plc, one of the UK's largest property franchises, today announces its maiden full year results for the year ended 31 December 2013.



FINANCIAL HIGHLIGHTS*



§ Revenue increased by 16% to £5.0m (2012: £4.3m)

§ Operating profit before exceptional items increased by 28% to £1.8m (2012: £1.4m)

§ Management Service Fees increased by 13% to £3.5m (2012: £3.1m)

§ Operating margin improved to 36% (2012: 33%)

§ Strong balance sheet with a net cash position of £4.8m at 31 December 2013 (31 December 2012: £0.6m)

*Includes discontinued operations



OPERATIONAL HIGHLIGHTS



§ Successful IPO and listing on AIM raising £3.1m (net) of new funds in December 2013

§ Achieved 30,000 tenanted properties under management milestone

§ Roll out of estate agency service to 97 offices

§ The Group sells or lets a property throughout the UK every 7 minutes during office hours

§ Continued strong franchisee retention with 59% of the network trading under the brand for five years or more

§ Cloud-based operating software rolled out to 79% of the network and a central contact database created



Ian Wilson, CEO commented:



"2013 was a milestone year for MartinCo which culminated in achieving record revenues and profit. Our successful listing on AIM opens up new growth opportunities for the Group as it seeks to make strategic acquisitions to complement its organic growth.



"We take confidence that the improving conditions of the UK residential housing market will support our established lettings service offering as well as our growing sales service which has exceeded our expectations at this early stage."



The Annual Report and Accounts for the financial year ended 31 December 2013 and notice of the Annual General Meeting ("AGM") of the Company will be posted to shareholders on 7th April and will be available on the Company's website at www.martinco.com .



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Letting and estate agency Martin & Co sees record results in first year as PLC

Thursday 10th April 2014





http://www.bournemouthecho.co.uk/business/news/11139484.Letting_and_estate_agency_Martin___Co_sees_record_results_in_first_year_as_PLC/?ref=mac

13 April - Mail on Sunday

Estate agency and lettings chain Martin & Co floated on the stock market in December and is ideally positioned to benefit from the upbeat mood in the property market. At 129p, the shares offer robust, long-term value.

Since 1996 the company has adopted a franchise model under which agents run their own businesses but have access to Martin & Co's support and experience in areas such as IT, marketing, shopfitting and training.

In exchange, they give the company 9% of their annual revenues. The company now has 160 franchisees operating 190 branches from Scotland to Devon.

Martin's maiden results as a public company, released in March, showed a 16% increase in revenues to £5 million and a 15% rise in underlying profits to £1.6 million. The group intends to pay an interim dividend in September and the first final dividend next spring.

The property market has made a real comeback and both sales and lettings are flourishing.

Martin & Co’s agents benefit from the company’s experience and financial strength but they are also semi-autonomous, so they are incentivised to do well. The company is poised for growth and the shares should respond. Buy.

Shares - MartinCo's prospects are strong. It is set to yield 3.2% this year and trades on a prospective price/earnings (PE) ratio of 17.1 times as the market expects rapid growth as the firm expands its network.

AGM Statement

RNS


RNS Number : 5292G

MartinCo PLC

08 May 2014






MARTINCO PLC



("Martin & Co", the "Company" or the "Group")



AGM Statement and Update



At today's Annual General Meeting of MartinCo Plc, Richard Martin, Chairman, will make the following statement:



"Since listing in December 2013, Martin & Co has made good progress in further developing the business. Our franchise network now has 191 offices across the UK, 124 of which offer full estate agency services, and have ambitions for further solid growth. The Company continues to pursue a number of organic and acquisition based opportunities which would benefit shareholders in the longer term.



"Current trading remains in line with the statement made at the time of the Company's full year financial results and the Board looks forward to the future with confidence."



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Interim Results

RNS


RNS Number : 1330R

MartinCo PLC

09 September 2014






MARTINCO PLC



("Martin & Co", the "Company" or the "Group")



Interim Results for the six months ended 30 June 2014



Record revenue performance, up 16% year-on-year to £2.3m, with roll-out of estate agency service supplementing organic growth of lettings and a targeted acquisition programme



MartinCo Plc, one of the UK's largest property franchises, today announces its maiden interim results for the period ended 30 June 2014.



FINANCIAL HIGHLIGHTS



§ Revenue increased by 16% to £2.3m (H1 2013: £2.0m)

§ Management Service Fees ("royalties") increased by 10% to £1.8m (H1 2013: £1.6m)

§ Gross profit increased by 11% to £2.1m (H1 2013: £1.9m)

§ Operating profit fell marginally to £0.77m (H1 2013: £0.83m) following investment in Group and franchisee network

§ Trading operating margin of 40% (H1 2013: 42%)

§ Strong balance sheet with a net cash position of £5.5m at 30 June 2014 (H1 2013: £0.2m)

§ Interim dividend of 1.3p per share





OPERATIONAL HIGHLIGHTS



§ 145 offices now offering estate agency service (FY 2013: 97)

§ 12 new franchisees recruited

§ Office network grown to 193 (FY 2013: 189)

§ 30,902 , tenanted properties under management (H1 2013: 29,704)

§ First Plc funded acquisition completed in June

§ Completed roll-out of cloud-based operating software

§ Launched online estate agency service at the start of September





Ian Wilson, CEO commented:



"The Group achieved record revenue in the first half of the year and saw a significant uplift in the rate of recruiting new franchisees. The roll-out of our estate agency business is now making a modest but growing contribution to Group revenue. In lettings, we have continued to drive growth with a welcome increase in our managed property portfolio..



"I am also pleased to announce that the Group's major project to implement new IT software across the network, which begun in 2012, has completed successfully. The new platform enhances our capability to collect data from our franchisees and deliver more effective e-marketing initiatives, such as the Group's weekly e-newsletter, which is distributed to over 36,000 current and potential landlord clients.



"The business has traditionally performed more strongly in the second half of the year, with an influx of franchise enquiries in September and October leading to new lettings. We also expect that our new estate agency operation will continue to make good progress in spite of a market where very strong recent growth rates have slowed somewhat."



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Acquisition of L&G Property Franchise Business

http://www.moneyam.com/action/news/showArticle?id=4914292

MartinCo - Acquisition of Legal & General's Property Franchise Business

Click here

Tipped in Shares today - analysts are bullish on MartinCo's acquisition and organic growth strategy, forecasting huge profit gains. Investors are set to share the spoils . MartinCo is expected to pay a maiden dividend of 4p a share, equivalent to a 4% yield , in 2014'Munden (Sue Munden / Panmure Gordon analyst) expects this to advance to 5p a share, a 5% yield , in 2015 and 7.3% in 2016.

Analyst price target 168p Panmure Gordon 4 Feb 2015

Final results


Operational Highlights



· Xperience acquisition increases footprint significantly - office numbers increased 49% from 189 to 282 in 49 new locations



· Number of tenanted managed properties increased from 30,623 to 32,210 at Martin & Co. Total across the Group was more than 42,000 at year end



· Total of 14 new Martin & Co franchisees recruited, six new offices opened (Inverness, Guisborough, Sunderland, Fitzrovia, Wilmslow & Sheffield) and two offices preparing to launch (Plymouth & Edinburgh)



· 23 offices with annual fee income over £500k of which 11 are Martin & Co and 12 are Xperience brands



· Group remains heavily weighted toward lettings market, accounting for 78% of Management Services Fees revenue



· Strong cash position of £3.4m at year end with £5m (£2.5m undrawn) debt facility agreed during the period





Financial Highlights



· Revenue* increased 25% to £5.2m (2013: £4.1m)



· Management Service Fees increased 16% to £4.1m (2013: £3.5m)



· Operating Profit** increased 26% to £2.0m (2013: £1.6m)



· Profit before tax increased 115% to £1.9m (2013: £0.9m)



· Net Assets increased 26% to £6.3m (2013: £5.0m)



· Proposed final dividend of 2.7p per share, making total for 2014 of 4.0p per share


/////////////////////////////////////////////////////////////////////////////////////////////////


MartinCo hikes FY pretax profit by 115%
StockMarketWire.com




Story provided by StockMarketWire.com

31 Mar Panmure Gordon 168.00 Buy

TV interview (<5mins) with CEO Ian Wilson giving overview of the business

AGM Statement
RNS
RNS Number : 3775M
MartinCo PLC
07 May 2015

MARTINCO PLC



("Martin & Co", the "Company" or the "Group")



AGM Statement





At today's Annual General Meeting of MartinCo Plc, Richard Martin, Chairman, will make the following statement:



"During our first year as a public company, we have delivered on a number of key strategic objectives set out at IPO and in doing so have grown the business substantially. In particular, the acquisition of Xperience in October increased our UK footprint by 89 offices, added four established property franchise brands and we now have over 43,000 tenanted managed properties across the Group, exceeding our target to achieve 40,000 properties within two years of listing.



"The progress made during the year demonstrates the strong fundamentals of the UK residential property market as the economic recovery gains momentum. We look forward to continuing to create value for our shareholders through both the lettings and estate agency services offered by the Group."



"Current trading is in line with market expectations. Our acquisition of the Xperience offices occurred six months ago and we are seeing the expected uplift in Group revenue, whilst our cost base remains under tight control. All of the franchisor functions for our five brands have now been successfully consolidated into our Bournemouth headquarters, and we have absorbed the restructuring costs involved. We are currently the only property franchisor successfully pursuing a multiple parallel brand strategy in the UK" commented CEO Ian Wilson.







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MIDAS-SHARE-TIPS-UPDATE-Lettings-agency-tip-Martin-grabs-slice-success.

Midas verdict: Martin & Co has done well since flotation but the best is yet to come. These shares are a strong hold.

Notice of Results
RNS
RNS Number : 3692X
MartinCo PLC
28 August 2015



MartinCo Plc



("MartinCo or the "Group")

Notice of results



MartinCo Plc, one of the UK's largest property franchise businesses, will announce its Interim Results for the six months ended 30 June 2015 on 09 September 2015.



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Looking for a good set of interim results in the morning.

MARTINCO

09 Sep 2015 07:00:12



MartinCo PLC



RNS Number : 4674Y

MartinCo PLC

09 September 2015






MARTINCO PLC



("Martin & Co", the "Company" or the "Group")



Interim Results for the six months ended 30 June 2015



Record revenue up 48% 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 its interim results for the period ended 30 June 2015.



FINANCIAL HIGHLIGHTS



§ Revenue increased by 48% to £3.4m (H1 2014: £2.3m)

§ Management Service Fees (royalties) increased by 61% to £2.9m (H1 2014: £1.8m)

§ Gross profit increased by 53% to £3.2m (H1 2014: £2.1m)

§ Operating profit increased by 66% to £1.3m (H1 2014: £0.8m) before exceptional reorganisation costs of £0.1m following the acquisition of "Xperience"

§ Operating margin of 38% (H1 2014: 34%) before exceptional items

§ Strong balance sheet with a cash position of £3.8m at 30 June 2015 (H1 2014: £5.5m)

§ Earnings per share increased by 45% to 4.2p per share (H1 2014: 2.9p)

§ Interim dividend increased by 38% to 1.8p per share (H1 2014: 1.3p)



OPERATIONAL HIGHLIGHTS



§ 284 trading offices (H1 2014: 193), 239 franchisees, no company owned offices

§ 253 offices offering Estate Agency service (H1 2014: 145)

§ 44,000 tenanted managed properties (H1 2014: 31,000)

§ 7 new franchisees recruited (H1 2014: 12)

§ 5 new offices opened (H1 2014: 3), further 7 offices preparing to open (H1 2014: 3)

§ 6 portfolio acquisitions by franchisees, adding 519 tenanted managed properties



Ian Wilson, CEO commented:



"Our strategy of developing "The Property Franchise Group" by acquiring other property franchisors has delivered a very good set of numbers in the first half-year after our acquisition of "Xperience". We have seen a strong increase in Group revenue and an even stronger increase in Group operating profits.



"We have substantially completed the integration of the "Xperience" divisional functions into our Head Office in Bournemouth, and we believe that there is scope for further operational gearing if the right target presented itself. We have cash on the balance sheet, unused debt facility and evidence that we can execute and consolidate the acquisition of another franchisor successfully.



"We will be increasing our focus in the second half-year on franchise sales activity, as we believe that each of our five brands is capable of further development through a mix of franchisee recruitment, encouragement for existing franchisees to expand, and the conversion of competitors to a franchise model.



"The track record of our letting business is that it has traditionally performed more strongly in the second half of the year and this trading pattern is expected in our estate agency business for 2015. The slower start to estate agency transactions in 2015 compared to 2014 appears to be reversing and the value of our transactions exchanged at £6.6m was 21% higher in June 2015 than it was in the previous year.



"We are pleased to announce an interim dividend of 1.8p representing a 38% year on year increase and it confirms our commitment to a progressive dividend policy."



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MartinCo PLC (MCO:LSE) set a new 52-week high during today's trading session when it reached 175.00. Over this period, the share price is up 69.08%.

Trading Update and Capital Markets Event
RNS
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 £5.3m (2014 £3.6m) and total Management Service Fees ("MSF") increasing by 64% to £4.6m (2014 £2.8m)



MSF from its lettings business increased by 33% to £3.5m (2014 £2.6m) and MSF from its sales business increased by 504% to £1.0m (2014 £0.2m). 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-

22 Oct Panmure Gordon 192.00 Buy

Going well.

MartinCo PLC (MCO:LSE) set a new 52-week high during today's trading session when it reached 190.00. Over this period, the share price is up 69.64%.

Big faller today. I'm out.

Interim Results

RNS


RNS Number : 7494J

MartinCo PLC

14 September 2016






MARTINCO PLC



(the "Company" or the "Group")



Interim Results for the six months ended 30 June 2016



EBITDA up 31% as the Group benefits from continued revenue growth and operational gearing



MartinCo Plc, one of the UK's largest property franchises, today announces its interim results for the period ended 30 June 2016.





FINANCIAL HIGHLIGHTS




·

Revenue increased by 12% to £3.7m (H1 2015: £3.4m)


·

Management Service Fees (royalties) increased by 10% to £3.2m (H1 2015: £2.9m)


·

Operating profit increased by 22% to £1.6m (H1 2015: £1.3m before exceptional costs)


·

Operating margin of 42% (H1 2015: 38% before exceptional costs)


·

Strong balance sheet with a net cash position of £4.5m at 30 June 2016 (H1 2015: £3.8m)


·

Earnings per share increased by 36% to 5.7p per share (H1 2015: 4.2p)


·

Interim dividend increased by 11% to 2.0p per share (H1 2015: 1.8p)






OPERATIONAL HIGHLIGHTS




·

289 trading offices (H1 2015: 284)


·

271 offices offering Estate Agency service (H1 2015: 253)


·

46,000 tenanted managed properties (H1 2015: 44,000)


·

7 new franchisees recruited (H1 2015: 7)


·

4 new offices opened (H1 2015: 5), further 3 offices preparing to open (H1 2015: 7)






Ian Wilson, CEO commented:



"I am delighted to announce this very strong performance in the first half of the year which reflects the significant strategic growth achieved over the period.



"The Company is in its strongest position since its admission to trading on AIM in 2014 and considering the current momentum, the Board remains confident of future progress for the benefit of shareholders and other stakeholders."