Belvoir Group Announces Strong Trading And Growth

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.

Financial highlights 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 year.”

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.

Source Belvoir Group
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