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

Related content

Rightmove reports property price recovery – but what about its own prospects?


The latest asking price data from property listings site Rightmove (RMV) for April indicates signs of recovery in the UK housing market.


Thu, 18/04/2019 - 00:00

Belvoir Lettings profits rise 40% as acquisitions help bolster revenues

Property franchise Belvoir Lettings posted a sharp rise in profits as revenue increased by more than a fifth driven by its property franchise network and...

Tue, 02/04/2019 - 08:38

Broker Forecast - Cantor Fitzgerald issues a broker note on Belvoir Lettings PLC

Cantor Fitzgerald today reaffirms its buy investment rating on Belvoir Lettings PLC (LON:BLV) and raised its price target to 160p (from 145p).

Broker Forecasts data...

Thu, 31/01/2019 - 10:00

Belvoir Lettings profits surge as lettings, sales growth boost fee income

Property franchise Belvoir Lettings said Tuesday first-half pretax profits rose two thirds as income from management service fees grew driven by lettings and sales....

Tue, 11/09/2018 - 09:16

Belvoir Lettings delivers bumper profit as management service fees jump 23%

Belvoir Lettings said Tuesday pre-tax profit rose 62% to £3.9m in the year to the end of December, from £2.4m the previous year.


Tue, 10/04/2018 - 10:09