Annual results announcement
End of year financial results
3rd - 9th February 2020
A sterling year from Connells Group's Estate Agency business
Increased activity & housing market momentum continues
Connells Group’s Estate Agency business saw positive growth in 2016 resulting in an 8% rise in exchanges compared to the previous year, and sees strong buyer demand continuing into 2017.
David Plumtree, Connells Group Estate Agency Chief Executive, says: "The strong performance from our estate agency business is even more impressive set against the backdrop of a market that is characterised by lack of stock and which suffered some short term disruption caused by Brexit. Connells Group has thrived in a challenging market and, with transaction levels up, we have more than maintained our market share. We are confident about the outlook for our business this year and buoyed by the strength in the market as evidenced by how many active buyers we are seeing. Indeed, we’re currently recording 11 buyer registrations for every new instruction that comes onto the market."
Connells Group's solid result comes in a year during which the business made several significant acquisitions - most notably Rook Matthews Sayer, Porter Glenny and Paul Dubberley - and opened 14 new branches across its various estate agency brands. Combined, this brought a further 56 new branches into its network and Connells Group now has nearly 600 branches.
"To ensure our competitiveness in the marketplace, we continue to invest in the quality and breadth of our business and the people within it who underpin our success," continues David. "Strengthening our branch network and extending our geographical footprint remains a key strategy for the future, as does our appetite for selective acquisition."
Connells Group operates under a number of well known high street estate agency brands including Connells, William H Brown, Barnard Marcus and Peter Alan and is one of the UK's largest and most successful estate agency and property services providers.