The company behind one of Kent's most prominent estate agents reported a "satisfactory" year despite a fall in profits in a "difficult market".

Arun Estates, the parent company of Ward & Partners, which has about 40 branches in the county, said a climate of "political uncertainty and tax changes" had affected the housing market.

It reported a 7% decline in turnover to £63.3 million, leading to pre-tax profits of £13.8 million, down 28%, according to its newly-filed accounts for the year to the end of September.

Yet finance director Chris Coxon said in his company report that its new financial services business exceeded expectations with an 8% increase in turnover and reported a good year for its lettings division.

"We have been very encourage by the continued expansion and achievements of our lettings business," he said.

"Our lettings portfolio now stands at a record level and turnover has increased by 13% over the previous year with the resultant profits increasing by 26%.

"Despite the forthcoming legislative changes with tenant fees we are expecting further advances in this area over this next financial period."

Arun Estates, which employs more than 1,000 people, was formed in 1991 when estate agent Paul Rooney bought a portfolio of agencies across the South East from Prudential Property Services.

Mr Coxon said the firm was "proud" to have increased salary packages for staff "despite the market limiting their commission earning ability in some areas".

He added: "Our diversification and the success that we have seen in our financial services and lettings businesses combined with our strong established base for continuing our estate agency achievements as the market strengthens gives the directors confidence that the group will produce another satisfactory result in the year to September 30, 2018."

Arun Estates' other brands include Cubitt & West, Douglas Allen, Pittis and Hadleys London.