Belvoir Lettings says on track to meet market expectations as revenues jump 21%

Writer, Stock Market Wire
Thursday, January 31, 2019 - 09:13

Property franchise business Belvoir Lettings said Thursday annual revenues rose by more than a fifth, keeping it on track to deliver results in line with market expectations.

For the year ended 31 December, revenue was up 21% to £13.7m as management service fees from lettings rose 7.1% and group income from financial services was bolstered by Brook Financial Services and MAB.

Brook like-for-like revenue from financial services increased by 20% from a year earlier.

The company said it expected that the performance for the year, including underlying profit before tax, would be in line with market expectations.

'In 2018, Belvoir delivered on its promise to support franchisee growth through its Assisted Acquisitions programme, adding network revenue of £6.9m, ahead of our £6.6m target for the year and over double that achieved in 2017,' said Dorian Gonsalves, CEO of Belvoir.

At 9:13am: (LON:BLV) Belvoir Lettings PLC share price was +2p at 92.5p

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