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

Belvoir profit climbs in H1, led by lettings, property sales, financial services growth

Property franchise Belvoir said half-yearly adjusted profit rose by nearly a quarter, driven by growth in its lettings, property sales and financial services.

For the...

Tue, 03/09/2019 - 09:43


Broker Forecast - finnCap issues a broker note on Belvoir Lettings PLC

finnCap today initiates coverage of Belvoir Lettings PLC (LON:BLV) with a corporate investment rating and price target of 190p.

Broker Forecasts data provided by ...

Wed, 28/08/2019 - 08:30


Belvoir Group 'confident' of meeting full-year expectations amid strong H1

Property franchise Belvoir Group reported 'strong' first-half performance with revenue and operating profit both 'comfortably ahead' of the same period last year.

Its high...

Mon, 05/08/2019 - 08:59


Belvior Group completes proposed name change from Belvior Lettings

Property franchise Belvior Group said it had officially changed its name from Belvoir Lettings.

The company said the new name better reflected its diversification from...

Mon, 22/07/2019 - 09:36


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

Author: 

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

Rightmove...

Thu, 18/04/2019 - 00:00