Belvoir Group Plc, which
claims to be the UK’s
largest property franchise, has announced strong trading results and
growth in its interim results for the six months ended 30 June 2019.
include a 48% increase in Group revenue compared to H1 2018 to £9,047,000 and
an 18% increase in gross profit to £6,198,000. The company saw a 5% increase in its Management Service Fees to
£4,201,000. Financial Services division revenue trebled to £3,969,000 partly as
a result of the November 2018 acquisition of MAB (Gloucester) Limited.
Dorian Gonsalves, CEO,
commented: “I am delighted to report another half year of further strategic and
trading progress for the Group, with our diversification into financial
services building on the growth of the underlying business. Trading across
lettings, sales and financial services continues to outperform their respective
markets and deliver strong results for the Group.
“The further take-up of
property sales, financial services and franchisee-led acquisitions demonstrates
the entrepreneurial spirit of our franchisees in the face of even more
challenging market conditions.
“I am pleased to further
report that Belvoir has achieved a promising start to the second half, and as
such the Company is on track to meet management expectations for the full
In an industry where
gloomy financials have been commonplace over the last couple of years Belvoir
represents something of a shining light. Although the business generated around
two thirds of its gross profit from the more-resilient lettings sector its
performance is positive nonetheless and something of a vote of confidence in
the franchising model.