Agency Group (ASX: AU1) Provides Performance Update for the Year Thus Far

KEY TAKEAWAYS:

• In its performance update released in April 2018 for the past year, Australia-based Agency Group has revealed exemplary performance the results of which are likely to trickle down to the forthcoming year too.
• Of its three subsidiaries, the West Coast and East Coast firms have performed well, while the newly acquired SLP has also delivered despite having been recently acquired.
• The Agency is also likely to be successful in meeting its target of hiring more than 300 agents on a nation-wide scale.

Australia-based conglomerate Agency Group (ASX: AU1) released a performance update on its commercial activities and results that have taken place over the past one year. Overall the company has recorded strong growth, owing to which the past year has been particularly productive. Given the trend, the positive impact of strong growth on the bottom line is expected to be evident in the following year too.

For majority of the past year, the company has been focused on sealing key acquisitions in the SLP (Sell Lease Property) segment while also striking strategic deals in the Top-Level Real Estate segment. Most instrumental for the firm has been the completion of settlement of SLP wherein the Agency has been successful in disrupting the traditional real estate models and replacing them with its own superior execution. Because many agents of SLP have remained with the Agency subsequent to the acquisition, an inflow of inquiries from all over the country continues to be steady, thus providing multiple strategic opportunities.

Year-end statistics released by the firm in March 2018 revealed that the main contributors were the Agency’s core businesses, namely West Coast, East Coast and SLP. Both West Coast and East Coast further comprise of multiple subsidiaries all of which have delivered a stellar performance over the past nine months. On its part, SLP has delivered positive results within a short time-frame of having been acquired, thus adding to the Agency’s overall performance.

What is also working in the company’s favour is that it is well-poised to meet its recruitment target of having more than 300 agents on a nation-wide scale.

About The Agency (ASX: AU1)

The Agency Group are disrupting the real-estate industry by being the first fully integrated real estate and financial services company. The Company uses property transactions and/or financing events to review and service a client’s complete finance and wealth requirements.

The Agency Group wish to raise up to $2.0 million of additional equity capital via the issue of 100m shares at an issue price of $0.02 per share pursuant to a placement (“Placement”). The Company has the ability to accept oversubscriptions of an additional $1.0m.

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