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Agency group aims to raise £100,000 to buy lettings book

Agency chain Hunters Group plc is to issue shares worth £100,000 to fund the acquistion of a lettings book.

This is the latest of a series of expansionist moves by Hunters, which last week announced figures showing a 45 per cent increase in revenue to £5.23m over the past year.

The company also floated on the Alternative Investment Market at the start of July.

Hunters has 161 branches in total after a rapid expansion in recent months and describes itself as the country's largest independent letting and estate agency group.

This year alone it has opened 19 new branches across the UK as well as acquiring 23 offices from Country Properties in Hertfordshire, Bedfordshire and Cambridgeshire.

"The second half [of the year] is traditionally the stronger trading period and given the current momentum in the business and the benefit of our expanded branch network we are confident of achieving strong growth and meeting our expectations for the full year” says Hunters' veteran chief executive Harry Hill.

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